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<p>An Ohio lawmaker, Derek Merrin, is proposing a groundbreaking law to create a strategic reserve of bitcoins within the State Treasury. In the face of the dollar’s devaluation and the rise of bitcoin, this initiative marks a turning point in institutional adoption in the United States.</p>
<h2 id="h-bitcoin-as-the-financial-shield-of-the-state-of-ohio">Bitcoin as the Financial Shield of the State of Ohio</h2>
<p>On Tuesday, Derek Merrin, a Republican representative from Ohio, a Midwestern state in the United States, presented the bill HB 703, dubbed the Ohio <a href="https://www.cointribune.com/en/why-could-bitcoin-become-an-essential-reserve-asset/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Reserve Act</a>. This initiative aims to revolutionize the management of the state’s financial reserves by integrating bitcoin into its economic strategy.</p>
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<p>Convinced that bitcoin is a strategic alternative to the devaluation of the US dollar, Merrin <a href="https://www.theblock.co/post/331337/ohio-lawmaker-proposes-bill-to-create-a-state-backed-bitcoin-reserve?utm_source=coingecko&amp;utm_medium=coingecko&amp;utm_content=coingecko&amp;utm_campaign=coingecko&amp;utm_term=coingecko" target="_blank" rel="noopener noreferrer nofollow">proposes</a> the creation of a Bitcoin reserve fund within the State Treasury. This fund would allow the treasurer of Ohio to invest a portion of the state’s temporary funds into bitcoins.</p>
<p>The objective is clear: to protect public finances against monetary erosion while positioning Ohio at the forefront of financial innovation.</p>
<p>For Merrin, bitcoin represents an essential solution: “<em>As the US dollar loses value, bitcoin offers a way to diversify our state’s portfolio and safeguard public funds against depreciation</em>.”</p>
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<h2 id="h-a-broader-political-movement">A Broader Political Movement</h2>
<p>This project is not an exception and fits into a growing trend nationwide. Several US states, such as Texas and Pennsylvania, are also considering establishing bitcoin reserves. Moreover, the possibility of a national BTC reserve under a Trump administration gives this movement a geopolitical scope.</p>
<p>The current context is particularly conducive. Bitcoin recorded a <a href="https://www.cointribune.com/en/107600-dollars-for-bitcoin-the-secret-behind-this-meteoric-rise/" target="_blank" rel="noopener noreferrer nofollow">spectacular increase of 155 %</a> in one year, reaching historic highs. The reelection of Donald Trump, known for his support of cryptos, has reinforced this positive momentum.</p>
<p>The lawmaker also cites Senator Cynthia Lummis’s initiative, which proposes that the United States acquire 1 million bitcoins over five years, thereby enhancing the credibility of this approach at the national level.</p>
<p>With this initiative, Ohio is positioning itself as a potential pioneer in integrating <a href="https://www.cointribune.com/en/bitcoin-the-tide-is-also-turning-in-europe/" target="_blank" rel="noopener noreferrer nofollow">bitcoin as a state reserve asset</a>. This bill could usher in a new era where cryptos are no longer seen merely as speculative assets, but as strategic tools for managing public finances.</p>

Bitcoin Reserve: How Ohio is Leading the Charge in the United States

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