Ohio State Representative Derek Merrin has introduced a bill, known as the Ohio Bitcoin Reserve Act, which would authorize the state’s treasury to invest public funds in Bitcoin. House Bill 703 would establish a dedicated Bitcoin fund within the state treasury and grant the State Treasurer discretionary power to purchase the cryptocurrency.
Merrin believes that Bitcoin can help protect tax dollars from devaluation and strengthen state finances. The bill does not mandate specific Bitcoin purchases or portfolio allocations. Ohio is among several U.S. states considering similar legislation, with proposals in Pennsylvania and Texas also seeking to invest in Bitcoin as a hedge against inflation.
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