CandleFocus Ohio introduces second Bitcoin reserve bill
2024-12-19
Author: Content Editor
The State of Ohio has introduced a second Bitcoin reserve bill, following a similar proposal from Representative Derek Merrin. The bill, proposed by Ohio House GOP Majority Whip Steve Demetriou, would allow the state to manage a strategic Bitcoin reserve by allocating up to 10% of its state-controlled funds towards a BTC stockpile. Demetriou believes that Bitcoin can help tap into Ohio's existing energy reserves due to the state's massive natural gas reserves and competitive energy grid. This move comes as legislative conversations around Bitcoin gain momentum across the US, with over 12 states considering BTC reserve laws. Senator Cynthia Lummis in Washington has also advocated for federal BTC reserve policies.
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