- North Dakota legislators introduced Resolution 3001 to explore cryptocurrency and precious metals investments.
- The resolution aims to curb inflation and adapt to changing economic conditions.
- Similar measures are being considered in other states, including New Hampshire, Texas, and Florida.
North Dakota legislators have introduced Resolution 3001 to diversify state funds into Bitcoin and precious metals as a way to combat inflation and adapt to changing economic conditions. Notably, a vote on the resolution is coming next Tuesday.
North Dakota Explores New Investment Strategies with Bitcoin
Resolution 3001, introduced by Representatives Nathan Toman, Matthew Heilman, and others, encourages the State Treasurer and Investment Board to consider investing in alternative assets.
The resolution doesn’t specifically mention Bitcoin or other digital assets. However, it does highlight the potential of cryptocurrencies to protect state finances.
“The resolution is simply encouraging the State Treasurer and the State Investment Board to look at investing in different types of assets rather than what they currently do,” said John Bjornson, Director of the North Dakota Legislative Council. He clarified that the resolution is symbolic and does not hold the force of law.
Other States Join the Crypto Investment Trend
North Dakota is not alone in exploring digital assets for state treasuries. New Hampshire introduced legislation for a state Bitcoin reserve on the same day, while states like Texas, Florida, Pennsylvania, and Ohio have previously considered similar strategies.
Louisiana began accepting Bitcoin and USDC stablecoin payments in September. This shows a growing shift toward cryptocurrency adoption at the state level.
New Hampshire Representative Keith Ammon noted the urgency for states to act, stating, “The state that is last to build Bitcoin reserves will lose.”
Next Steps for Resolution 3001
The outcome of Tuesday’s vote will determine if North Dakota will diversify its investments. If approved, the resolution could place North Dakota among the growing list of states recognizing cryptocurrencies as tools for financial resilience.
Other senators who introduced the resolution include Jared Hendrix, Daniel Johnston, SuAnn Olson, Todd Porter, and Senators Jeff Barta and Bob.
The resolution stresses that North Dakota must adapt its investments to keep up with changing economic conditions and new opportunities.
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