Ohio Proposes Bitcoin Reserve to Combat Inflation

Ohio has introduced a bill to establish a Strategic Bitcoin Reserve, aiming to secure state funds, combat inflation, and set standards for digital asset adoption. The bill, sponsored by Majority Whip Steve Demetriou and six co-sponsors, seeks to invest 10% of the state's general fund, budget stabilization fund, and prizes trust fund into Bitcoin. This move is intended to safeguard the state's treasury from inflation and maintain financial security for the long term.

Market expert Dennis Porter, founder of the Satoshi Action Fund, has publicly supported the bill. He shared details on his X account, emphasizing its importance for protecting Ohio residents' tax dollars. Porter believes that the legislation will work to the state's advantage.

The legislative proposal includes robust custody measures to maintain secure control of funds. According to the proposal, holders of Bitcoin must manage their assets directly through self-custody systems or qualified custodial services for secure storage. This strategy minimizes digital asset risks while promoting open accounting for state investment management. The bill uses the "digital asset" category to create technology independence and both minimize political obstacles and boost implementation speed.

Revised qualifications have been added to preserve excellent standards. The digital asset reserve requires candidates to hold a minimum average market cap valuation of $750 billion across twelve months. Currently, only Bitcoin fits this particular eligibility requirement. The set of regulations protects investments in Ohio against digital currency market volatility while providing steady conditions and dependable financial performance.

With leadership support and six additional sponsors, the bill stands as a stronger prospect. Lawmaker support and Porter's team have committed to working together to move the legislation forward. Through this venture, Ohio proves its dedication to financial modernization and establishes its position as a model for contemporary financial methods.

Upon success, the Strategic Bitcoin Reserve will serve as a prototype for statewide adoption of digital assets within public financial systems. This decision demonstrates increasing awareness of Bitcoin as a key player in today's economic systems. Ohio stands out in digital finance leadership by actively integrating blockchain technology and digital assets to create visionary governance models.