• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ohio Proposes a Revolutionary Approach to Asset Management with Bitcoin

user avatar

by Giorgi Kostiuk

6 months ago


Republican House leader Derek Merrin introduced a bill to establish a Bitcoin reserve in Ohio, making it the third U.S. state with such an initiative in the past month.

The Ohio Bitcoin Reserve Act

Known as the Ohio Bitcoin Reserve Act (HB 703), the bill grants the state's treasury authority to purchase Bitcoin as part of Ohio's asset allocation strategy. It establishes the framework for the use of Bitcoin to reinforce financial stability.

The U.S. Dollar is being rapidly devalued, and our State Treasurer should have the authority and flexibility to invest in Bitcoin when determining proper asset allocation.Derek Merrin

The Bill's Provisions and Potential Impact

The bill amends sections of Ohio’s Revised Code to create a dedicated Bitcoin fund within the state treasury, allowing flexible decision-making on Bitcoin investments as part of financial planning strategies.

A Growing Trend Across the U.S.

Ohio's initiative is part of a broader trend with other states like Pennsylvania and Texas also proposing similar plans, highlighting the increasing interest in digital assets within state reserves.

If passed, the bill could strengthen Ohio's fiscal position, reduce the need to raise taxes or cut services, and enhance the state's ability to meet its obligations more effectively.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Market Optimism: Traders Expect Bitcoin to Rise to $120K

chest

Data shows that 46% of traders believe Bitcoin will rise to $120K by the end of July, reflecting confidence in the crypto market.

user avatarGiorgi Kostiuk

Jonathan Gould Appointed as OCC Head: New Horizons for Crypto Banking

chest

Senate has confirmed Jonathan Gould as OCC head, which may lead to changes in crypto banking regulations and market access.

user avatarGiorgi Kostiuk

Florida Probes Robinhood: Allegations of False Crypto Service Promotions

chest

Florida has launched an investigation into Robinhood over allegations of misleading advertising of its crypto services as the cheapest in the market.

user avatarGiorgi Kostiuk

Anonymous whale deposits 4,500 ETH to Binance with $4.32 million loss

chest

An anonymous whale deposited 4,500 ETH to Binance, resulting in a $4.32 million loss, according to analyst Ai Yi.

user avatarGiorgi Kostiuk

Bitcoin Breaks Records Again: The Influence of ETFs and Politicians

chest

Bitcoin reached a new record thanks to institutional investments and political decisions, boosting confidence in cryptocurrencies.

user avatarGiorgi Kostiuk

Circle and HiFi Bridge Partnership: New Opportunities for B2B Payments with USDC

chest

Circle teams up with HiFi Bridge to introduce B2B payment solutions using USDC to Brazil and Hong Kong.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.