Vivek Ramaswamy Endorses Ohio's Bitcoin Reserve Initiative

user avatar

by Giorgi Kostiuk

2 years ago

Former US presidential candidate Vivek Ramaswamy has expressed support for Ohio's decision to establish a Bitcoin reserve. The bill, known as House Bill 18, requires the state treasurer to invest 10% of the fund in cryptocurrency as a hedge against inflation.

Vivek Ramaswamy's Support for the Bill

Ramaswamy described the bill as a powerful and thoughtful idea, aligning with global trends. He emphasized the importance of hedging against inflation and praised the initiative's author, Steve Demetriou, for his innovative approach.

A thoughtful & powerful bill here in Ohio. We need to think creatively about hedging against government-created inflation risks & keeping our state at the cutting edge of innovation, rather than playing from behind. Kudos to @steve4ohiohouse for thinking outside the box.Vivek Ramaswamy

Features of Ohio's Strategic Reserve

The bill envisions creating a strategic cryptocurrency reserve, including Bitcoin to hedge against inflation and maintain innovative leadership. It mentions ‘digital assets’ to avoid political friction.

Strict Investment Requirements

The bill sets strict investment criteria, including selecting digital assets with a market capitalization of approximately $750 billion over the past 12 months. Banks or regulated investment services may be involved in asset custody.

Ohio's strategic cryptocurrency reserve bill could be a significant step in using digital assets as investment vehicles for state funds. This is the second such proposal, reflecting national efforts to explore digital assets.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Federal Reserve Pauses Interest Rate Hike for Upcoming FOMC Meeting

The Federal Reserve is not expected to raise interest rates at the upcoming FOMC meeting, as indicated by recent forecasts and comments from Fed officials.

user avatarMaria Fernandez

Citigroup Increases Price Targets for Bitcoin and Ethereum

Citigroup has raised its 12-month price targets for Bitcoin to $113,000 and for Ethereum to $3,028, citing stronger activity in crypto markets and ETF inflows.

user avatarGustavo Mendoza

TopNod Introduces Axil Pot APT for Enhanced Onchain Yield Management

TopNod has launched Axil Pot APT, a new onchain yield vault that allows users to earn an estimated 8% APY while maintaining instant liquidity.

user avatarRajesh Kumar

MEXC Expands Guardian Fund with Additional 1,000 BTC

MEXC has added another 1,000 BTC to its Guardian Fund, marking the second major allocation this year.

user avatarMiguel Rodriguez

HANetf and HSBC Launch First GBP EUR-Hedged Bitcoin Products

HANetf and HSBC have announced the launch of the first GBP EUR-hedged Bitcoin products, marking a significant development in the digital asset ecosystem.

user avatarLuis Flores

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

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.