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

Visa, BILL, and Billtrust Pilot AI Agents for Invoice Payments

Visa, BILL, and Billtrust have launched a pilot program to use AI agents for automating approved invoice payments through supplier portals.

user avatarZainab Kamara

Visa Introduces Stablecoin-Enabled Prefunding with Inyo Global

Visa has launched its stablecoin-enabled Visa Direct prefunding service in collaboration with Inyo Global, enhancing international money transfer efficiency.

user avatarSon Min-ho

Ripple Prime Introduces Perpetual Swaps for Institutional Clients

Ripple Prime introduces perpetual swaps for institutional clients, allowing them to trade derivatives referencing over 100 traditional markets.

user avatarAyman Ben Youssef

Ripple Highlights Key Trends in Institutional Custody from BCG Report

Ripple discusses key trends in institutional custody for digital assets based on a BCG report, highlighting the importance of governance, interoperability, and security.

user avatarTando Nkube

Solana Enhances Developer Experience with Web3js v31 Release

Solana announces the release of Web3js v31 on October 16, enhancing interoperability with development tools for easier application building.

user avatarKofi Adjeman

Study Proposes Optimizing Validator Leader Schedules for Solana

A study suggests optimizing validator leader schedules for quicker handovers while highlighting potential security tradeoffs.

user avatarNguyen Van Long

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.