Bitcoin is being taken seriously by governments around the world. And now, there’s another state who wants to start buying.

‍What’s happening:‍

• A new bill has officially been proposed in the Ohio State Legislature to begin using state funds to purchase Bitcoin for the first time ever
  

Why it matters:‍

• Ohio is now the third state in the United States of America to propose purchasing Bitcoin, following behind both Pennsylvania and Texas
  

Going deeper:‍

• There remains to be rampant speculation that the United States federal government may introduce a strategic Bitcoin reserve on a federal level upon president elect Donald Trump officially coming into office, which has helped fuel the price of Bitcoin to new all time highs
  
• This is also not the first time Ohio has tried to embrace Bitcoin and digital assets, as they previously attempted to begin accepting crypto for tax payments before the concept was ultimately shut down due to regulatory concerns
  

The fine print:‍

• While multiple states have now proposed beginning to accumulate Bitcoin with state funds, none of the bills have been officially passed into law as of yet

‍