Ohio State Bitcoin Reserve: Steve Demetriou’s Bold Plan for Digital Finance

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Ohio State Rep. Steve Demetriou wants to turn Columbus into a major Bitcoin reserve hub. His plan could boost crypto adoption, attract businesses, and bring more investment to the Midwest. A strong crypto policy may drive innovation, create jobs, and increase tax revenue, making Columbus a key player in the digital economy.

Demetriou leading the effort, wants to position Ohio as a frontrunner in digital asset adoption. His proposal allows the state to invest up to 10% of its unused funds in Bitcoin, aiming to strengthen Ohio’s financial future and bring innovation to public treasury management. 

Ohio’s Vision for Bitcoin Adoption

Demetriou believes that for Ohio to lead in digital finance, it must embrace cryptocurrencies. His bill grants the state treasurer the authority—but not the obligation—to invest in Bitcoin. These funds would come from the general revenue fund, the rainy-day fund, and the trust fund that covers lottery winnings. The move is not just about diversification; it’s about putting Ohio on the map as a crypto-friendly state ready to embrace financial innovation.

A Growing Trend Among U.S. States

Ohio isn’t alone in this push. Across the U.S., 28 states have proposed similar Bitcoin reserve plans, with 18 actively moving through legislative stages. Fifteen states have already reached discussions in the House of Representatives, while some have hit roadblocks. However, the increasing support for Bitcoin in public funds reflects the growing belief that digital assets have a role in government finance.

The federal government is still debating whether to create a national crypto reserve, but individual states are moving ahead. Ohio’s initiative could set a precedent for others, encouraging broader adoption of Bitcoin in public treasury strategies.

Bitcoin’s Stability in Question

While Demetriou’s bill is structured with strict guidelines to ensure responsible Bitcoin investment. Only cryptocurrencies with a market capitalization of at least $750 billion qualify, and currently, Bitcoin is the only one that meets this requirement. Security is a top priority—investments must be held securely in multiple locations, with no smartphone access allowed to prevent cyber threats.

Bitcoin’s price fluctuations have raised concerns, but Demetriou sees it as a long-term investment rather than a speculative asset. By integrating Bitcoin into its financial strategy, Ohio is taking a forward-thinking approach, potentially reshaping how governments manage and grow public funds.