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Bill

HCR 3001

A concurrent resolution encouraging the State Treasurer and State Investment Board to invest selected state funds in digital assets and precious metals.

69th Legislative Assembly (2025-26) Introduced by Jeff Barta and 7 co-sponsors

Resolution urges North Dakota to invest state funds in cryptocurrencies and precious metals, raising fiduciary concerns about volatility and long-term pension security.

Second reading, failed to adopt
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Bill Summary · HCR 3001

Legislative bill overview

HCR 3001 is a concurrent resolution that urges North Dakota's State Treasurer and State Investment Board to allocate a portion of state funds into digital assets (cryptocurrencies) and precious metals. The resolution does not mandate investment but serves as a non-binding expression of the legislature's policy preference.

Why is this important

State pension and investment funds manage billions of dollars in public money intended for retirees, schools, and essential services. Any shift toward alternative assets like cryptocurrencies—which are highly volatile and lack traditional regulatory oversight—could significantly impact long-term financial security and return stability for beneficiaries. The bill reflects broader debate about whether states should pursue emerging asset classes.

Potential points of contention

  • Volatility and fiduciary risk: Digital assets experience extreme price swings; cryptocurrencies have lost 50-80% of value in single years, potentially jeopardizing guaranteed retirement benefits and public services funding
  • Regulatory uncertainty: Crypto markets lack the established safeguards of traditional investments; regulatory changes could rapidly devalue holdings or create legal complications for state holdings
  • Opportunity cost: Capital allocated to speculative assets reduces funds available for stable, proven investments (bonds, diversified equities) that historically deliver predictable returns for long-term obligations
  • Reputational and accountability concerns: Public pension funds face scrutiny over prudent management; significant crypto exposure could trigger political backlash if losses occur

Compiled from official sources — confirm details with the bill’s official record.

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