North Carolina lawmakers propose bills to allocate up to 5% of pension funds’ balance to crypto

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“Crypto Cash Coup: North Carolina Lawmakers Eye Pension Funds 🤑”

North Carolina lawmakers propose bills to allocate up to 5% of pension funds’ balance to crypto

As the winds of change howl through the halls of power, a new storm brews in the Tar Heel State. North Carolina, ever eager to cash in on the next big thing, has introduced two bills that would allow its public pension funds to invest up to 5% of their balance in the elusive realm of cryptocurrencies 🌐.

Representative Brenden Jones, the mastermind behind House Bill 506, and the Senate’s own Senator… well, Senator… has filed Senate Bill 709, because why not? 🤷‍♂️ The bills aim to create an “Investment Authority” that will operate independently of the State Treasurer, because who needs oversight, right? 🙅‍♂️

But what’s the real motive behind this crypto crusade? Is it to diversify the pension funds, or simply to get in on the ground floor of the next big thing? 🤑 Either way, it’s a bold move, and one that will surely bring a smile to the faces of the cryptocurrency moguls who’ll be raking it in 💸.

This isn’t the first time a state has tried to get in on the crypto game, of course. Indiana’s House Bill 1322, Kansas’s proposed legislation, and Florida’s Republican lawmakers all trying to get their hands on some Bitcoin 🤪. And let’s not forget the Australians, who’ve been boosting their cryptocurrency investments like it’s going out of style 💸.

But what about the risks? Ah, don’t worry, the experts will figure it out 🙄. After all, who needs regulation or oversight when you’ve got the magic of the free market, right? 🤷‍♂️

And so, the great crypto experiment continues 🎢. Will North Carolina’s pension funds strike it rich, or will they become the latest victims of the cryptocurrency bubble? Only time (and a healthy dose of skepticism) will tell 🤔.

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2025-03-26 15:18