Ohio Moves to Become a Bitcoin Reserve Hub – Here’s the Plan

Ohio State Representative Steve Demetriou has a bold plan: turning Columbus into a major Bitcoin reserve center. His proposal could boost crypto adoption, attract businesses, and bring more investment to the Midwest.

By embracing digital assets, Ohio hopes to drive innovation, create jobs, and increase tax revenue – making it a key player in the digital economy.

So, how does Ohio plan to pull this off? And what does it mean for the future of public finance? Let’s dive in.

Investing in Bitcoin for the Future

Demetriou wants Ohio to be a leader in digital finance. His proposal would allow the state to invest up to 10% of its unused funds in Bitcoin, strengthening Ohio’s financial future while modernizing the way public funds are managed.

To take the lead in digital finance, Demetriou believes Ohio must actively embrace cryptocurrency. His bill gives the state treasurer the option—but not the obligation—to invest in Bitcoin. The money would come from three main sources: the general revenue fund, the rainy-day fund, and the trust fund that covers lottery winnings.

But this plan is also about putting Ohio on the map as a forward-thinking, crypto-friendly state.

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A National Trend Toward Bitcoin

Ohio isn’t alone in this effort. Across the U.S., 28 states have introduced similar Bitcoin reserve plans, with 18 actively moving through the legislative process. So far, 15 states have brought the idea to their House of Representatives, though some have faced obstacles.

At the federal level, there is ongoing debate about creating a national crypto reserve, but states like Ohio are taking the lead and could set an example for others.

Safety and Security Come First

Demetriou’s bill includes strict rules to ensure responsible investment. Only cryptocurrencies with a market capitalization of at least $750 billion qualify – meaning that, for now, only Bitcoin meets the requirement.

Security is a top priority. The state’s Bitcoin holdings would be stored in secure, multiple locations, with no smartphone access to prevent cyber threats.

Bitcoin’s price swings have raised concerns, but Demetriou sees it as a long-term investment rather than a short-term bet. By including Bitcoin in its financial strategy, Ohio is taking a forward-thinking approach – one that could change how governments manage and grow public funds in the digital era.

Ohio has always been about industry. Now, it’s betting big on the future of money itself.