Introduction
Picture this: your retirement nest egg riding the wild waves of Bitcoin! In North Carolina, that dream’s edging closer to reality. Lawmakers dropped two hot bills—House Bill 506 (HB 506) and Senate Bill 709 (SB 709)—in March 2025, eyeing a 5% slice of pension funds for crypto like Bitcoin, stablecoins, and NFTs. They’re even cooking up a new “North Carolina Investment Authority” to steer the ship. Before these, HB 92 and SB 327 kicked off the Bitcoin buzz. What’s the scoop for retirees and the state’s wallet? Let’s unpack this crypto craze shaking up North Carolina as of April 2, 2025!
HB 506 and SB 709: Crypto’s Big Break in NC
What’s Cooking with HB 506 and SB 709?
On March 24, 2025, Rep. Brenden Jones unleashed HB 506, followed by SB 709 in the Senate a day later. These twin bills greenlight 5% of certain pension funds for digital assets—think Bitcoin, stablecoins, or even quirky NFTs. The twist? They’re birthing the North Carolina Investment Authority, a standalone crew to vet and manage these bets. Unlike other states’ picky rules, there’s no market cap filter here, so the crypto menu’s wide open. It’s a bold play to juice up state funds with blockchain flair.
How They Stack Up Against HB 92 and SB 327
Earlier in 2025, HB 92 (February 10) and SB 327 (March 18) threw down the gauntlet, letting the state treasurer toss up to 10% of public funds—including pensions—into Bitcoin ETFs. HB 506 and SB 709 dial it back to 5% and hand the reins to a new authority instead. It’s a tighter leash, aiming for pro-level oversight in a market that’s anything but tame. Check the lineup:
| Bill | Allocation % | Filing Date | Management Authority |
| HB 92 | 10% | Feb 10, 2025 | State Treasurer |
| SB 327 | 10% | Mar 18, 2025 | State Treasurer |
| HB 506 | 5% | Mar 24, 2025 | NC Investment Authority |
| SB 709 | 5% | Mar 25, 2025 | NC Investment Authority |
Why’s North Carolina Going All-In on Crypto?
Chasing Bitcoin’s Big Payoff
Bitcoin’s been a rocket ship, zooming from pennies to tens of thousands by 2025. House Speaker Destin Hall’s betting that crypto could supercharge North Carolina’s pension funds—worth billions—and ease the squeeze of future payouts. A 5% stake could turn into a goldmine if digital assets keep climbing, giving retirees a fatter cushion down the road.
Riding the Global Crypto Wave
It’s not just a Tar Heel thing—states like Texas and even nations worldwide are dipping toes into crypto waters. With the crypto industry pumping over $100 million into 2024 U.S. campaigns, political juice is flowing. North Carolina’s itching to lead the pack, blending blockchain buzz with public finance swagger.
Risks of Betting Pension Funds on Crypto
Wild Rides and Security Scares
Crypto’s a rollercoaster—up 10% today, down 15% tomorrow. The State Employees Association of North Carolina (SEANC) isn’t thrilled, warning that retirees’ savings could take a hit if Bitcoin tanks. And don’t forget hacks—digital wallets aren’t foolproof. The new authority’s got a tough gig keeping those funds safe in a lawless market.
Lawmakers Pump the Brakes
Not everyone’s sold. Senate bigwig Phil Berger’s on the fence, saying, “I’m still figuring out if this is genius or nuts.” Some Democrats and cautious Republicans want more homework before diving in. It’s a classic clash: bold vision versus playing it safe with public cash.
What’s in It for Residents and Pension Funds?
A Win for Retirees’ Wallets
If these bills hit the jackpot, North Carolina retirees could see juicier returns, keeping pension funds afloat as inflation bites. That’s the dream Hall and crew are selling—a future where crypto pumps up public wealth without breaking the bank.
Rewriting the Investment Playbook
Success here could light a fire under other states. Imagine pension funds nationwide hopping on the crypto train—North Carolina might just spark a revolution in how Uncle Sam’s dollars get invested.
Conclusion
North Carolina’s crypto laws—spanning HB 92, SB 327, HB 506, and SB 709—are shaking up the pension game as of April 2, 2025. They’re dangling big rewards but flirting with big risks. Is this a slam dunk for retirees or a dice roll with their savings? The jury’s out. What’s your call on crypto in pension funds—genius move or wild gamble? Share below and keep tabs on this Tar Heel crypto adventure!
