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North Carolina House Approves Bitcoin Investment for $127 Billion Pension Fund
In a significant move, the North Carolina House has approved two bills that would allow up to 5% of the state’s massive pension fund to be invested in cryptocurrencies. This comes as the state faces a substantial $16 billion deficit in its pension system and seeks to improve investment returns.
The proposed legislation aims to address the pension shortfall by introducing a more diversified investment strategy. The new five-member North Carolina Investment Authority would oversee state investments, ensuring accountability and transparency.
Source: https://blockonomi.com/north-carolina-house-approves-bitcoin-investment-for-127-billion-pension-fund/
