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Ohio State Lawmaker Introduces Strategic Bitcoin Reserve Bill
Ohio State Representative Diane Grendell has introduced a bill to establish a Strategic Bitcoin Reserve in the state, aiming to make Ohio a leader in innovation and technology. The move comes just two weeks before the end of the 135th General Assembly, scheduled to adjourn on December 31, 2024.
House Bill 703 proposes investing up to 10% of Ohio’s General Fund into Bitcoin, mirroring similar initiatives taken by states like Texas and Pennsylvania. This bold step demonstrates Ohio’s commitment to embracing cutting-edge technologies and solidifying its position as a pioneer in the field.
Ohio is poised to become the third US state to establish a Strategic Bitcoin Reserve (SBR), following recent developments in Texas and Pennsylvania. It’s worth noting that other states have taken more conservative approaches, focusing on Bitcoin-related ETFs and trusts.
Grendell emphasized her enthusiasm for this opportunity during the announcement: “I’m excited to introduce this bill to ensure Ohio is positioned as a leader in innovation and technology. I look forward to working with the legislature in 2025 to guarantee that Ohio takes full advantage of this chance.”
The introduction of House Bill 703 comes at a critical time, as it is likely to be reintroduced during the next legislative session, which begins on January 6, 2025.
Source: bitcoinist.com
