Ohio Considers Bitcoin for State Investments in New Bill

Ohio considers Bitcoin for state investments in a new bill. Ohio lawmakers are exploring digital assets to expand state investments. A new proposal, House Bill No. 18, was introduced by Representative Steve Demetriou and backed by six other legislators. The bill allows up to 10% of Ohio’s reserves and general fund to be allocated to digital currencies. This step aims to shield state finances from inflation while diversifying holdings.

To ensure stability, the bill limits investments to digital assets with a market cap of $750 billion or more during the past year. Presently, Bitcoin is the only cryptocurrency meeting this requirement, with its valuation surpassing $2 trillion. If passed, the legislation could open doors for broader Bitcoin adoption among institutions. Ohio would also lead the way in using cryptocurrencies for public financial management, reinforcing Bitcoin’s reputation as a reliable, long-term asset.

BTC/USD is showing a bullish structure, with higher highs and higher lows visible on the daily chart. The price recently broke above the $100,000 support level and is currently consolidating near the $103,410.

The RSI (Relative Strength Index) is stable around 52, suggesting moderate momentum with room for further upside. A break above $103,410 could target $115,000, while a rejection may lead to a retest of the $100,000 psychological level.

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