Boost

Bitcoin

when

Reserve

<ul class="wp-block-list">
 <li>The Ohio state’s lawmaker has announced plans to initiate a Bitcoin Reserve as per reports.</li>
 <li>Several governments have been adopting increased interests for Bitcoin investments.</li>
</ul>
The cryptocurrency community has begun its holiday preparations with several events lined up for Christmas and the New Year. Amidst several giveaways, you might want to check out TheNewsCrypto’s Twitter for fun and exciting holiday events. Meanwhile, other members have begun discussions on how the crypto landscape would look like in 2025.&nbsp;
Among notable incidents, the US state of Ohio saw an important development in its cryptocurrency stance. Lawmaker and state representative Derek Merrin <a href="https://x.com/DerekMerrin/status/1869134602390122545" target="_blank" rel="noopener noreferrer nofollow">announced</a> on X that he had filed HB 703. This bill, when passed as an act, would create a Bitcoin Reserve for Ohio.&nbsp;
Moreover, the bill advocated for passing an act—the “Ohio Bitcoin Reserve Act”—that would facilitate state investments in Bitcoin. Derek Merrin stated that this would allow the Ohio state government to harness the power of Bitcoin to strengthen its state finances.&nbsp;
Additionally, the bill grants authority to the state treasurer to buy Bitcoin strategically. The bill also stated that Merrin is expecting the Trump administration to set up a national Bitcoin Reserve.&nbsp;
Furthermore, Derek Merrin expects that the bill might be passed as an act in the upcoming State Legislature Assembly. The Assembly is scheduled for December 31st as per reports. Moreover, several of the US states have recently turned more positive towards the cryptocurrency sector, particularly after Trump’s winning the elections.&nbsp;
<h3 class="wp-block-heading" id="h-ohio-the-latest-addition-to-the-government-bitcoin-strategic-reserve">Ohio – The Latest Addition to the Government Bitcoin Strategic Reserve?</h3>
Several governmental organizations have been endorsing Bitcoin reserves in the recent past. The <a href="https://thenewscrypto.com/trump-announces-bitcoin-reserve-plans-that-could-start-a-crypto-cold-war/" target="_blank" rel="noopener noreferrer nofollow">Trump</a> administration has spearheaded the initiative, but the move has been mirrored by multiple others. Within the USA, the Texas state government also announced plans to launch an investment in Bitcoin.&nbsp;
Other nations, such as <a href="https://thenewscrypto.com/russian-state-duma-proposes-creating-a-strategic-bitcoin-reserve/" target="_blank" rel="noopener noreferrer nofollow">Russia</a> and India also have begun discussions on the front and can be expected to initiate governmental investments in the digital asset. The ROI depicted by nations such as El Salvador and Bhutan has sparked the notion in these and other countries.&nbsp;
Meanwhile, the digital asset itself has been trading at the $103K level as per CMC <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">data</a>, after its recent testing of $107K.&nbsp;
Highlighted Crypto News Today:&nbsp;
<a href="https://thenewscrypto.com/binance-wallet-launches-binance-alpha-to-highlight-promising-projects-and-boost-transparency/" target="_blank" rel="noopener noreferrer nofollow">Binance Wallet Launches Binance Alpha to Highlight Promising Projects and Boost Transparency</a>

Ohio Lawmaker Derek Merrin Files For State Bitcoin Reserve

Table of Contents

TheNewsCrypto

Other articles published on Dec 18, 2024

Crypto All-Stars Presale Nears $20 Million with Just 3 Days Until End – Next 10X ICO?

BlackRock’s Spot Bitcoin ETF Achieves Remarkable Growth

Zenta-Go | Zentagate: Enhancing Security in Decentralized Car Sharing

The Bull Run Picks: Qubetics, Avalanche, and Near Protocol Are on Analysts’ Radars for Massive Ga...

NFTMozaic Secures Web3 Foundation Grant to Unite and Elevate Polkadot’s NFT Ecosystem

Ethereum Name Service (ENS) Partners to Develop Its Own Layer 2 Network! Here Are the Details

Join our free newsletter for daily crypto updates!