1. United States
2. N.C.
3. Letter

The proposed Senate Bill 327 to establish a Bitcoin reserve and investment program in North Carolina raises significant concerns regarding fiscal responsibility and prudent management of public funds. Investing taxpayer dollars in a highly speculative and volatile asset like Bitcoin poses substantial risks and exposes the state's finances to unnecessary turmoil. This bill threatens to squander valuable resources on a risky endeavor rather than allocating them towards productive initiatives that directly benefit the citizens of North Carolina. A sober assessment of Bitcoin's extreme price fluctuations and lack of inherent value demonstrates the inadvisability of entrusting public money to such an unstable and unproven investment vehicle. The state's financial stability should not be jeopardized by speculative ventures driven by hype rather than sound economic principles. Public funds are a sacred trust, and their stewardship demands a level of caution and fiscal discipline that this bill blatantly disregards. It is imperative to reconsider this ill-advised proposal and prioritize measures that contribute to the state's long-term economic well-being and the prosperity of its residents. Embracing fiscally responsible policies that foster sustainable growth, support vital public services, and promote the judicious management of taxpayer resources should be the guiding principles for any legislative action concerning the state's finances.