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):

Florida is emerging as one of the pioneering states in integrating Bitcoin into its long-term financial strategy. According to Samuel Armes, President of the Florida Blockchain Business Association (FBBA), the state could begin plans to establish a Bitcoin reserve fund in the Q1 2025 legislative session.
Bold investment strategy
Florida proposes to allocate 1% of the $185.7 billion pension fund, equivalent to $1.857 billion, to invest in Bitcoin. Additionally, the state's $116.5 billion budget surplus for the 2024-2025 fiscal year could add another $1.16 billion to this fund.