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Ohio Proposes Establishing a Bitcoin Reserve Fund: Opportunities to Protect Public Assets from Depreciation
Ohio is becoming the focal point of attention in the cryptocurrency community with Representative Derek Merrin introducing Bill 703 – also known as the Ohio Bitcoin Reserve Act. This bill proposes establishing a fund $BTC in the state treasury while empowering the state treasurer to independently decide on Bitcoin investments.
Bitcoin: Protecting Public Assets Against Inflation
According to Representative Derek Merrin, the USD is rapidly depreciating, causing public assets to lose value. Bitcoin is seen as a potential solution to protect this capital. He stated on platform X (formerly Twitter):
Bitcoin: Protecting Public Assets Against Inflation
According to Representative Derek Merrin, the USD is rapidly depreciating, causing public assets to lose value. Bitcoin is seen as a potential solution to protect this capital. He stated on platform X (formerly Twitter):
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South Dakota Proposes Bitcoin Reserve Fund Legislation – A Widespread Trend in the U.S.
#SouthDakota is preparing to debate a bill to include Bitcoin in the state’s financial reserve, a move that reflects the state's official recognition of cryptocurrency. This is also part of a growing trend in the U.S., as many states are proposing similar policies.
South Dakota Pioneers in Holding Bitcoin
Logan Manhart, a South Dakota state representative, stated on X on Tuesday:
South Dakota Pioneers in Holding Bitcoin
Logan Manhart, a South Dakota state representative, stated on X on Tuesday:
Ohio lawmaker proposes bill to create a state-backed bitcoin reserve
Ohio lawmaker proposes bill to create a state-backed bitcoin reserve
Ohio State Representative Derek Merrin introduced a new bill on Tuesday to establish a state-backed bitcoin reserve.
“As the US dollar undergoes devaluation, bitcoin provides a vehicle to supplement our state's portfolio and preserve public funds from losing value,” Merrin wrote in his X post.
HB 703, named the Ohio Bitcoin Reserve Act, seeks to create a designated bitcoin reserve fund within the state treasury and authorize the treasurer to invest interim money of the state in bitcoin.
“A strategic bitcoin reserve fund aligns with the state's commitment to fostering innovation in digital assets and providing Ohioans with enhanced financial security,” the bill said.
In a separate statement, the Republican Ohio lawmaker said that he anticipates the incoming administration under Donald Trump to establish a national bitcoin reserve, also mentioning Republican Sen. Cynthia Lummis’ draft bill to have the U.S. purchase 1 million BTC in five years.
Representatives from other U.S. states, including Texas and Pennsylvania, have also recently pushed to build bitcoin reserves in their respective states.
Bitcoin has seen substantial gains throughout this year, especially after the reelection of crypto proponent Trump as U.S. President.
The world’s largest cryptocurrency rose 155% in the past year, currently trading at $104,680 according to The Block’s bitcoin price page.
#Ohio #OhioState #Bitcoin #cryptomarket #CryptoNews
Ohio State Representative Derek Merrin introduced a new bill on Tuesday to establish a state-backed bitcoin reserve.
“As the US dollar undergoes devaluation, bitcoin provides a vehicle to supplement our state's portfolio and preserve public funds from losing value,” Merrin wrote in his X post.
HB 703, named the Ohio Bitcoin Reserve Act, seeks to create a designated bitcoin reserve fund within the state treasury and authorize the treasurer to invest interim money of the state in bitcoin.
“A strategic bitcoin reserve fund aligns with the state's commitment to fostering innovation in digital assets and providing Ohioans with enhanced financial security,” the bill said.
In a separate statement, the Republican Ohio lawmaker said that he anticipates the incoming administration under Donald Trump to establish a national bitcoin reserve, also mentioning Republican Sen. Cynthia Lummis’ draft bill to have the U.S. purchase 1 million BTC in five years.
Representatives from other U.S. states, including Texas and Pennsylvania, have also recently pushed to build bitcoin reserves in their respective states.
Bitcoin has seen substantial gains throughout this year, especially after the reelection of crypto proponent Trump as U.S. President.
The world’s largest cryptocurrency rose 155% in the past year, currently trading at $104,680 according to The Block’s bitcoin price page.
#Ohio #OhioState #Bitcoin #cryptomarket #CryptoNews
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Update on Bitcoin Legislation in U.S. States
Legislative activity related to Bitcoin in the U.S. continues to show notable developments.
🔹 State #ohio : A group of Representatives has just proposed a bill to eliminate state tax on payments made in Bitcoin. If passed, this policy could encourage the use of BTC as a legal means of payment in the state.
🔹 State #SouthDakota : The Bitcoin Reserve bill HB 1202, which proposed including Bitcoin in the state's financial reserves, was not approved by the House Committee on Commerce and Energy. This decision somewhat reflects the challenges of recognizing BTC as a strategic asset at the state level.
These moves indicate a division in how states in the U.S. approach Bitcoin, with some areas looking to promote BTC acceptance, while others remain cautious.
#anhbacong
Legislative activity related to Bitcoin in the U.S. continues to show notable developments.
🔹 State #ohio : A group of Representatives has just proposed a bill to eliminate state tax on payments made in Bitcoin. If passed, this policy could encourage the use of BTC as a legal means of payment in the state.
🔹 State #SouthDakota : The Bitcoin Reserve bill HB 1202, which proposed including Bitcoin in the state's financial reserves, was not approved by the House Committee on Commerce and Energy. This decision somewhat reflects the challenges of recognizing BTC as a strategic asset at the state level.
These moves indicate a division in how states in the U.S. approach Bitcoin, with some areas looking to promote BTC acceptance, while others remain cautious.
#anhbacong
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OHIO TAKES A HISTORIC STEP TOWARDS ADOPTION OF #BITCOIN ! 🚀
The state of Ohio is about to become a pioneer in integrating cryptocurrencies into its public finances. The Bitcoin Strategic Reserve Bill has passed the committee phase, significantly moving closer to final approval.
What does this bill entail?
- Creation of a Bitcoin Strategic Reserve $BTC : Ohio plans to establish a state fund dedicated to investing in Bitcoin, positioning itself at the forefront of financial innovation.
- Payments in Bitcoin: Citizens may have the option to pay taxes and state fees using Bitcoin, facilitating the adoption of cryptocurrencies in everyday transactions.
Why is this relevant?
The approval of this bill would position Ohio as the first state to integrate Bitcoin into its treasury, setting a precedent for other jurisdictions. Moreover, it reflects a growing trend in the United States, where multiple states are considering similar legislation. According to a MarketWatch report, if 18 states were to approve bills to establish cryptocurrency reserves, this could inject up to $23 billion into Bitcoin.
Impact on the crypto market
Institutional adoption of Bitcoin by government entities could strengthen confidence in the cryptocurrency market, potentially boosting its value and stability. This move could also incentivize other states and countries to consider similar policies, accelerating the global adoption of digital assets.
Conclusion
Ohio is about to make a milestone in financial history by integrating Bitcoin into its state operations. This advancement not only highlights the growing acceptance of cryptocurrencies but could also redefine the relationship between public finances and digital assets in the near future.
$BTC
#bitcoin #ohio #Criptomonedas #blockchain
The state of Ohio is about to become a pioneer in integrating cryptocurrencies into its public finances. The Bitcoin Strategic Reserve Bill has passed the committee phase, significantly moving closer to final approval.
What does this bill entail?
- Creation of a Bitcoin Strategic Reserve $BTC : Ohio plans to establish a state fund dedicated to investing in Bitcoin, positioning itself at the forefront of financial innovation.
- Payments in Bitcoin: Citizens may have the option to pay taxes and state fees using Bitcoin, facilitating the adoption of cryptocurrencies in everyday transactions.
Why is this relevant?
The approval of this bill would position Ohio as the first state to integrate Bitcoin into its treasury, setting a precedent for other jurisdictions. Moreover, it reflects a growing trend in the United States, where multiple states are considering similar legislation. According to a MarketWatch report, if 18 states were to approve bills to establish cryptocurrency reserves, this could inject up to $23 billion into Bitcoin.
Impact on the crypto market
Institutional adoption of Bitcoin by government entities could strengthen confidence in the cryptocurrency market, potentially boosting its value and stability. This move could also incentivize other states and countries to consider similar policies, accelerating the global adoption of digital assets.
Conclusion
Ohio is about to make a milestone in financial history by integrating Bitcoin into its state operations. This advancement not only highlights the growing acceptance of cryptocurrencies but could also redefine the relationship between public finances and digital assets in the near future.
$BTC
#bitcoin #ohio #Criptomonedas #blockchain
Ohio’s Bold Bitcoin Move: Can AI Platforms Like DexBoss Drive Crypto Adoption?
In a big step toward cryptocurrency adoption, #ohio has come up with a new bill
to create a state Bitcoin reserve. If passed, the proposal would allow the state of
Ohio to invest exclusively public funds in Bitcoin and store the same safely for a
minimum period of five years.
Key Provisions of the Bill
The Ohio Bitcoin Reserve Fund also facilitates investments in Bitcoin and enables
the state agencies that accept these coins as a method of payment to pay for
taxes or fines; those funds then get converted into Bitcoin and are deposited in
that reserve. That fund accepts donations of Bitcoin from Ohio residents, as well
as universities. This fund identifies its biggest contributors via a recognition
program
A Growing Trend Across U.S. States
Ohio is joining a movement that's picking up steam, with other states like Utah
and Arizona considering similar legislation that will allow public funds to be
invested in Bitcoin. The move may prompt wider crypto adoption and will likely
change how U.S. states approach public finances and engage with digital assets.
The rise of platforms like DexBoss, designed to make cryptocurrency trading
easier with AI-driven tools, further emphasizes the role that technology can play
in smoothing crypto engagement. DexBoss is still in presale, with a little over
$551,288.8 raised toward a goal of $750,000. The presale price of DexBoss
token is set at $0.01, with plans for the price to increase to $0.0505 upon
listing. That's how this platform is positioning itself for growth and contributing
to the overall ecosystem of digital assets.
Visit Official Website:
ht tps: //dexboss. io/?u_id =h1o6Qb
(Beware of fake websites impersonating as DexBoss, only interact with official website)
Why It Matters
Ohio's proposal for a Bitcoin reserve could set an example for other states,
feeding into the greater trend of the integration of cryptocurrency into
government operations. The more that states adopt digital assets, the closer the
U.S. might be to a nationwide crypto adoption shift. Innovations in the space,
such as those seen with DexBoss, like risk management tools and multi-strategic
trading, are showing the way to make crypto markets more accessible for both
novice investors and seasoned traders.
#DigitalAssets
to create a state Bitcoin reserve. If passed, the proposal would allow the state of
Ohio to invest exclusively public funds in Bitcoin and store the same safely for a
minimum period of five years.
Key Provisions of the Bill
The Ohio Bitcoin Reserve Fund also facilitates investments in Bitcoin and enables
the state agencies that accept these coins as a method of payment to pay for
taxes or fines; those funds then get converted into Bitcoin and are deposited in
that reserve. That fund accepts donations of Bitcoin from Ohio residents, as well
as universities. This fund identifies its biggest contributors via a recognition
program
A Growing Trend Across U.S. States
Ohio is joining a movement that's picking up steam, with other states like Utah
and Arizona considering similar legislation that will allow public funds to be
invested in Bitcoin. The move may prompt wider crypto adoption and will likely
change how U.S. states approach public finances and engage with digital assets.
The rise of platforms like DexBoss, designed to make cryptocurrency trading
easier with AI-driven tools, further emphasizes the role that technology can play
in smoothing crypto engagement. DexBoss is still in presale, with a little over
$551,288.8 raised toward a goal of $750,000. The presale price of DexBoss
token is set at $0.01, with plans for the price to increase to $0.0505 upon
listing. That's how this platform is positioning itself for growth and contributing
to the overall ecosystem of digital assets.
Visit Official Website:
ht tps: //dexboss. io/?u_id =h1o6Qb
(Beware of fake websites impersonating as DexBoss, only interact with official website)
Why It Matters
Ohio's proposal for a Bitcoin reserve could set an example for other states,
feeding into the greater trend of the integration of cryptocurrency into
government operations. The more that states adopt digital assets, the closer the
U.S. might be to a nationwide crypto adoption shift. Innovations in the space,
such as those seen with DexBoss, like risk management tools and multi-strategic
trading, are showing the way to make crypto markets more accessible for both
novice investors and seasoned traders.
#DigitalAssets
Ohio lawmaker proposes bill to create a state-backed bitcoin reserve
Ohio State Representative Derek Merrin introduced a new bill on Tuesday to establish a state-backed bitcoin reserve.
“As the US dollar undergoes devaluation, bitcoin provides a vehicle to supplement our state's portfolio and preserve public funds from losing value,” Merrin wrote in his X post.
HB 703, named the Ohio Bitcoin Reserve Act, seeks to create a designated bitcoin reserve fund within the state treasury and authorize the treasurer to invest interim money of the state in bitcoin.
“A strategic bitcoin reserve fund aligns with the state's commitment to fostering innovation in digital assets and providing Ohioans with enhanced financial security,” the bill said.
In a separate statement, the Republican Ohio lawmaker said that he anticipates the incoming administration under Donald Trump to establish a national bitcoin reserve, also mentioning Republican Sen. Cynthia Lummis’ draft bill to have the U.S. purchase 1 million BTC in five years.
Representatives from other U.S. states, including Texas and Pennsylvania, have also recently pushed to build bitcoin reserves in their respective states.
Bitcoin has seen substantial gains throughout this year, especially after the reelection of crypto proponent Trump as U.S. President.
The world’s largest cryptocurrency rose 155% in the past year, currently trading at $104,680 according to The Block’s bitcoin price page.
#Ohio #OhioState #Bitcoin #cryptomarket #CryptoNews
Ohio State Representative Derek Merrin introduced a new bill on Tuesday to establish a state-backed bitcoin reserve.
“As the US dollar undergoes devaluation, bitcoin provides a vehicle to supplement our state's portfolio and preserve public funds from losing value,” Merrin wrote in his X post.
HB 703, named the Ohio Bitcoin Reserve Act, seeks to create a designated bitcoin reserve fund within the state treasury and authorize the treasurer to invest interim money of the state in bitcoin.
“A strategic bitcoin reserve fund aligns with the state's commitment to fostering innovation in digital assets and providing Ohioans with enhanced financial security,” the bill said.
In a separate statement, the Republican Ohio lawmaker said that he anticipates the incoming administration under Donald Trump to establish a national bitcoin reserve, also mentioning Republican Sen. Cynthia Lummis’ draft bill to have the U.S. purchase 1 million BTC in five years.
Representatives from other U.S. states, including Texas and Pennsylvania, have also recently pushed to build bitcoin reserves in their respective states.
Bitcoin has seen substantial gains throughout this year, especially after the reelection of crypto proponent Trump as U.S. President.
The world’s largest cryptocurrency rose 155% in the past year, currently trading at $104,680 according to The Block’s bitcoin price page.
#Ohio #OhioState #Bitcoin #cryptomarket #CryptoNews
🚨Smoke rises from a JPMorgan Chase & Co. building following an explosion, in Youngstown, Ohio
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#jpmorgan #jpmorganchase #bank #ohio #alcrypto
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#jpmorgan #jpmorganchase #bank #ohio #alcrypto
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