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United States: Ohio, Pennsylvania, and Texas plan the creation of a Bitcoin State Reserve

Ohio State Representative Derek Merrin has introduced Bill 703, known as the Ohio Bitcoin Reserve Act, in an attempt to authorize the state treasurer to invest public funds in BTC.

Ohio State Representative Derek Merrin has introduced Bill 703, known as the Ohio Bitcoin Reserve Act, in an attempt to authorize the state treasurer to invest public funds in BTC.

The latest initiative is announced as part of Merrin's broader vision to leverage innovative financial solutions. The legislation provides the framework for Ohio to incorporate Bitcoin into its state treasury portfolio.

Merrin highlighted concerns about the current devaluation of the US dollar, positioning Bitcoin as a strategic reserve asset to preserve the value of state funds and complement the existing financial framework. Although the bill does not mandate the purchase of Bitcoin, it grants the State Treasurer the authority and flexibility to make such investments as part of asset allocation decisions.