Key Takeaways
- Ohio Senator Sandra O’Brien introduces a second Bitcoin reserve bill to boost the state’s financial standing under Trump’s reign.
- The Ohio bill proposed by O’Brien outlines several key changes to the state’s law and even facilitates Bitcoin payments for government-related payments.
- With the addition of Ohio, the number of US states pushing for a Bitcoin reserve has reached a count of 14 and is expected to grow pretty soon.
As more and more countries acknowledge the true potential of cryptocurrencies, their global adoption keeps on increasing with each day. With many industrial giants like BlackRock currently backing the original crypto and countries like the US following suit, smaller states are also considering integrating themselves into the digital economy. That’s where Ohio, a highly-developed US state puts them into the dust with a second Bitcoin Reserve Bill, sparking a wildfire across the crypto community.
This article will look into this new development in the US and what it implies for the various influencers and crypto enthusiasts.
Growing Crypto Immersal Of US States
Almost half of the state governments in the US either have already put some of their money into crypto or are in the process of doing so. This rapid growth and innovation of adopting crypto kickstarted with US President Donald Trump put forward the plans for a national digital asset stockpile.
Currently, 21 states plan on expanding their investment in the crypto industry. Their investment is primarily focused on the original cryptocurrency and other USD-backed stablecoins. As this progresses, many prominent US states like Arizona, Pennsylvania, Utah, and Texas are already looking into various legislations to facilitate the buying of crypto through open public funds.
Ohio Senator Proposes Second Bitcoin Reserve Bill
Sandra O’Brien, an Ohio Senator, proposes a second Bitcoin reserve bill. She wants the state treasurers to allow them to invest in Bitcoin to create “The Ohio Bitcoin Reserve Fund”. The Ohio Senate Bill 57 states that such a fund can be raised with the permission of the treasurers’ permission and the Senator is exactly hoping for this.
For the reserve fund, the state needs to hold the BTC investment for at least 5 years and mandate a secure custody solution for asset protection. O’Brien proposed this bill on the 28th of January 2025. Following this proposal, she tweeted on X that “the crypto world is here, and Ohio needs to be a leader.”
The Ohio Bill: A Game Changer For The State
The Ohio bill proposed by O’Brien outlines several key changes to the current financial and economic part of the state. Per the latest reports, the Ohio bill requires the state and other government agencies to include crypto as a payment mechanism for taxes, fines, and other government charges.
It also demands that whenever the payment is made in crypto, it should be immediately converted to Bitcoin and transferred to their state reserve. Not only that, it also asks to establish a funding campaign for BTC and to create a recognition program for significant and notable donations.
Is Ohio Not Alone In The Bitcoin Reserve Races?
Per O’Brien, the Ohio Reserve Fund is around the corner. She believes that crypto is going to play a major role during Trump’s reign. With the way things are going, she’s right on the mark, especially as he introduced tremendous changes to SEC in favor of fostering a crypto-friendly environment. However, the decision regarding the Ohio BTC reserve is still pending to be considered, meaning it will take time to come to fruition.
With the addition of Ohio, the number of US states pushing for a Bitcoin reserve has reached a high of 14. It all began with the passing of a bill in the Utah House committee that granted the states to invest a portion of their public funds into the crypto market. It is estimated that this count will keep increasing as Trump’s rule progresses, and may even lead to large-scale global adoption of cryptocurrencies, especially Bitcoin.
