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

Cardano Reports Progress on Leios Scaling Design in Latest Development Update

Cardano's November 6 development report highlights progress on the Leios scaling design, focusing on endorserblock production and chain selection checks.

user avatarAisha Farooq

XRP Momentum Indicators Show Oversold Conditions

XRP has faced significant selling pressure, with its RSI down to 26, indicating oversold conditions and potential for recovery.

user avatarBayarjavkhlan Ganbaatar

Analyst Identifies Potential Recovery for XRP Price

Analyst Ali Martinez identifies a descending channel pattern suggesting XRP could recover towards 130, contingent on the 114 support level holding.

user avatarMohamed Farouk

FCA Opens Application Window for Banks to Enter Regulated Crypto Activities

The Financial Conduct Authority (FCA) has announced that wholesale banks can apply to extend their permissions into regulated cryptoasset activities under the new UK framework.

user avatarElias Mukuru

Legislative Focus on Bitcoin Reserves Expected in 2027

Legislative focus on Bitcoin reserves is expected in 2027 as lawmakers in Florida and Texas prepare for new sessions, with key figures like Byron Donalds and James Talarico potentially influencing future policies.

user avatarDiego Alvarez

Bipartisan Support for Bitcoin Reserves Emerges After 2026 Midterms

Bipartisan support for Bitcoin reserves has emerged following the 2026 US midterm elections, with officials from both parties in Florida and Texas advocating for government-held Bitcoin reserves.

user avatarKenji Takahashi

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.