North Carolina's new Bitcoin Reserve Bill will authorize the use of 10% of public funds to purchase Bitcoin

BlockBeats News, March 19, according to Bitcoin Laws, the new Bitcoin Reserve Bill SB327 in North Carolina authorizes the State Treasurer to allocate up to 10% of public funds to Bitcoin. The details are as follows:

· Custody: Multisignature cold storage

· Reserve Proof: Monthly audit

· Holding: Only allowed to be sold under strict conditions in times of "severe financial distress"

North Carolina currently holds $9.5 billion in its general fund.