Ohio Senator Sandra O’Brien has introduced Senate Bill 57 (SB57), which would allow the state’s treasurer to invest in Bitcoin (BTC) and create the Ohio Bitcoin Reserve Fund. The bill is part of a growing trend of U.S. states exploring Bitcoin reserves amid rising interest in crypto-backed financial policies.
Ohio’s Bitcoin Reserve Proposal: Key Details
- SB57 was introduced on Jan. 28, 2025, and referred to the Financial Institutions, Insurance, and Technology Committee the next day.
- The bill permits the Ohio state treasurer to invest state funds in Bitcoin—exclusively BTC, not other cryptocurrencies.
- Bitcoin holdings must be kept for at least five years, with strict custody solutions ensuring secure storage.
- Ohio government agencies must accept crypto payments, including for taxes, fees, fines, and state services.
- The bill allows residents, state agencies, and universities to donate BTC to the fund, with a recognition program for major contributors.
Ohio’s Position in the National Bitcoin Reserve Trend
Ohio is not alone in exploring state-level Bitcoin reserves:
- In December 2024, Ohio House Republican leader Derek Merrin introduced HB 703, another bill advocating for state BTC investments.
- In September 2024, Senator Niraj Antani proposed allowing Ohio to accept crypto for tax payments.
- Utah’s House committee recently passed a crypto investment bill, while Arizona and Utah continue working on Bitcoin reserve legislation.
- Former President Donald Trump’s executive order on Jan. 23, 2025, established a crypto working group, potentially influencing national policy toward a U.S. Bitcoin reserve.
Why Ohio Lawmakers Support Bitcoin Reserves
Proponents argue that Bitcoin can serve as a hedge against U.S. dollar devaluation. Ohio House leader Derek Merrin stated that “the U.S. dollar is rapidly devaluing”, and Bitcoin should be an option in state asset allocation strategies.
With twelve U.S. states considering Bitcoin reserve bills, Ohio’s SB57 could position the state as a leader in integrating Bitcoin into government financial planning.
While Ohio’s Bitcoin reserve bill seems focused on financial flexibility, the bigger picture is the national trend toward state-led Bitcoin adoption. With Trump’s crypto working group forming, states like Ohio, Utah, and Arizona may be laying the groundwork for a future U.S. Bitcoin reserve—potentially making BTC an official part of government financial strategy.