Ohio State Representative Derek Merrin has introduced Bill 703, also known as the Ohio Bitcoin Reserve Act, aimed at allowing the state treasurer to invest public funds in Bitcoin.

- This initiative is part of Merrin's broader vision to leverage innovative financial solutions. The legislation provides a legal framework for Ohio to integrate Bitcoin into the state treasury's investment portfolio.

- Merrin emphasizes concerns about the devaluation of the USD, viewing Bitcoin as a strategic reserve asset to protect the value of state funds. The bill does not mandate the purchase of Bitcoin but allows the state treasurer flexibility in asset allocation decisions.

- This act also anticipates efforts at the federal level, with proposals from legislators like Senator Cynthia Lummis to establish a national Bitcoin reserve. 🌐

- Ohio is following in the footsteps of Pennsylvania and Texas in pursuing state-level Bitcoin reserves, asserting its pioneering position in this movement. 🚀