Lawmakers introduce bill to invest state funds in crypto and precious metals
Jan 17, 2025
MINOT, ND (KXNET) — North Dakota lawmakers are looking for new ways to invest some state funds this session.
If passed, the resolution, titled HCR 3001, would encourage the state treasurer and State Investment Board to invest selected state funds in digital assets and precious metals.
The bill, which is meant to bring diversification, to the state's financial purchasing power, was introduced by six representatives and two senators. While the bill would serve as a way to hedge against inflation, others say it's a good way to adjust.
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"The general fund has maybe been at odds with the bankers or the bank of North Dakota," said North Dakota State Representative Nathan Toman. "I think we could also make that adjustment here if the committee is going to adjust."
If passed, a permanent legacy fund in digital assets would be established.
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