Official financial reports or announcements from the Ohio state government

Ohio Introduces Bill for Strategic Bitcoin Reserve, Allowing 10% Allocation from State Funds with 6 Co-Sponsors

Jan 24, 2025, 08:28 PM

A new bill has been introduced in Ohio to establish a 'Strategic Bitcoin Reserve,' sponsored by Majority Whip Steve Carra. The legislation allows the state to allocate up to 10% of its general fund and budget towards the reserve. This initiative is part of a broader trend, with expectations that other states will follow suit in creating similar reserves to promote Bitcoin adoption. The bill has garnered support from six co-sponsors and aims to define 'digital assets' broadly, although it does not specifically mention Bitcoin in its text. Advocates believe this move could accelerate the adoption of Bitcoin across the United States.