The US state of North Carolina passes bill to study acquiring Bitcoin
The North Carolina House of Representatives has passed a bill to study the impact and viability of acquiring Bitcoin as a hedge against inflation. The bill allocates $50,000 to explore the use of assets like gold and Bitcoin as inflation hedges, while also considering the downsides of Bitcoin holding. The bill received 75 votes in favor and 38 votes against, signaling a step towards formal acknowledgment of Bitcoin in North Carolina.
Key Points:
- North Carolina House of Representatives passes bill to study acquiring Bitcoin
- $50,000 allocated to explore Bitcoin’s viability as a hedge against inflation
- Downsides of Bitcoin holding to be considered
- Bill receives 75 votes in favor and 38 votes against
- Seen as a milestone for crypto adoption
This development is seen as a significant step towards wider acceptance and adoption of cryptocurrencies. The crypto community believes that more states should follow North Carolina’s example, as politicians gaining a better understanding of blockchain and innovation will benefit the United States. However, it’s worth noting that North Carolina’s Buncombe County has placed a one-year moratorium on crypto mining due to concerns about energy consumption.
Hot Take: North Carolina’s decision to study the viability of acquiring Bitcoin demonstrates a growing recognition of cryptocurrencies as potential assets and hedges against inflation. As more states and governments explore the benefits and downsides of cryptocurrencies, the path towards broader adoption becomes clearer.
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