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Ohio Follows Pennsylvania, Texas in Pursuing State-Level Bitcoin Reserves

Ohio State Representative Derek Merrin has introduced House Bill 703, known as the Ohio Bitcoin Reserve Act, in a bid to authorize the state treasurer to invest public funds in BTC. The latest initiative is announced as part of Merrin’s broader vision to leverage innovative financial solutions. The legislation provides the framework for Ohio to incorporate Bitcoin into its state treasury portfolio. Ohio Bitcoin Reserve Act Merrin highlighted concerns about the ongoing devaluation of the US dollar, positioning Bitcoin as a strategic reserve asset to preserve state funds’ value and supplement the existing financial framework. While the bill does not mandate the purchase of Bitcoin, it gives the State Treasurer the authority and flexibility to make such investments as part of asset allocation decisions. He stated, “Bitcoin is revolutionizing finance and will reshape world economies. We must have sound money – it’s like digital property rights for everyone who owns it. This legislation sets up the framework for Ohio’s state government to harness the power of Bitcoin to strengthen our state finances.” The bill also anticipates further federal-level efforts, referencing potential proposals from lawmakers like Senator Cynthia Lummis to establish a national Bitcoin reserve under the incoming administration. Supporters like Andrew Burchwell, Executive Director of the Ohio Blockchain Council, also highlighted Bitcoin’s increasing adoption as a reserve asset globally, praising the legislation for positioning Ohio as a leader in this movement. State Bitcoin Reserves Merrin’s proposal to create a Bitcoin reserve positions Ohio alongside other states pursuing similar initiatives. For instance, in Pennsylvania, Republican Reps. Mike Cabell and Aaron Kaufer introduced the “Pennsylvania Bitcoin Strategic Reserve Act” in November. The bill allows the treasury to allocate up to 10% of the state’s $7 billion fund into Bitcoin to hedge against inflation and reduce reliance on traditional investments like bonds and cash reserves. In Texas, Republican Rep. Giovanni Capriglione filed House Bill 1598, establishing a strategic Bitcoin reserve account funded entirely through donations. Unlike Pennsylvania’s approach, the assets in Texas’s reserve would be held for up to five years. The post Ohio Follows Pennsylvania, Texas in Pursuing State-Level Bitcoin Reserves appeared first on CryptoPotato . The Daily Hodl

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Binance Global User Survey – 45% Joined Crypto in 2024

Binance , the global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and users, today revealed its user survey on the current state of the crypto market and expectations for 2025. The survey polled over 27,000 Binance users from six continents, including Asia, Australia, Europe, Africa and Latin America, with their insights into the future of crypto adoption, perceptions of evolving regulations and emerging consumer trends. Key findings include the following. 19.4% of respondents expect more crypto regulation in 2025, while 23.9% anticipate AI tokens to lead the market’s growth, signaling a shift in user perceptions that could lead to greater mainstream adoption and technological innovation. Nearly 45% of survey participants joined the crypto space in 2024, but daily trading remains strong among users, with 31.1% trading regularly. Binance Spot trading tops the list of most-used Binance products, with 25.9% of users actively engaging in it, followed closely by Binance Earn and Binance Convert at 25.3% and 17.3%, respectively. A significant 44.0% of respondents have allocated less than 10% of their overall wealth to crypto, while 24.3% hold between 10% and 25% in crypto assets. Expectations for crypto market in 2025 A significant portion of the respondents expect to see more maturity and real-world relevance in the crypto industry in the coming year. A notable 19.4% of the sample expect increased crypto regulations over the next 12 months, while 16.1% anticipate greater participation from traditional financial institutions and institutional investors in the crypto space. Additionally, 16.5% foresee wider implementation of blockchain technology in real-world applications. AI tokens are expected to dominate the market Among emerging sub-sectors, our users expect AI tokens to lead the market in 2025 – 23.9% of our survey participants believe AI tokens will drive the market’s growth, making them the category of digital assets with the greatest perceived upward potential. Memecoins come in second, with 19.1% of respondents showing confidence in their potential rise, followed by DeFi tokens at 12.4% and layer-one tokens at 12.3%. Top HODL tokens – m emecoins, Bitcoin and BNB When it comes to the most popular tokens among users, memecoins lead the pack, with 16.1% of respondents currently holding them. Bitcoin is the second most-held asset at 14.4%, followed closely by BNB, sitting at 14.2%. Interestingly, for the survey participants, BNB holdings surpass ETH, which accounts for 11.0% of total holdings of survey participants. Other leading layer-one tokens collectively represent 10.4%. The survey results suggest that memecoins are not only popular in terms of current holdings but are also the class of digital assets that users are highly excited about for the future. New crypto adopters – A cautious but active approach The survey also highlights the influx of new adopters in the crypto space. Nearly half (45%) of respondents joined the crypto market in 2024, with 24.5% having entered in the past six months and 20.6% joining within the past year. While many new users are still finding their footing, 41.9% of respondents have been active in the crypto market for one to five years, highlighting a balanced mix of experience levels in the Binance community. A significant 44.0% of respondents have allocated less than 10% of their overall wealth to crypto, while 24.3% hold between 10% and 25% in crypto assets. Trading activity remains strong, with 31.1% of respondents reporting daily trades and 22.9% trading weekly. Motivations for entering the crypto market The survey also explored why users are drawn to the crypto space. Digital assets’ potential for rapid appreciation emerged as the leading motivator for our users, with 22.4% of respondents citing it as their main reason for joining. Decentralization and financial independence were also significant drivers, influencing 18.8% of participants. Meanwhile, 17.2% of respondents highlighted the speed and ease of transactions as a key factor in their decision to enter the market. Binance Spot – The most popular product among users The survey revealed that Binance Spot trading is the most widely used product among participants. Of the 27,000 respondents, 25.9% identified Binance Spot as their go-to product. Close behind is Binance Earn, with 25.3% of users actively utilizing its features to grow their crypto holdings. Binance Convert secured the third spot, with 17.3% of respondents choosing it as their preferred tool for seamless crypto conversions. These results highlight the diverse ways Binance users engage with the platform’s ecosystem to meet their diverse financial needs. The results of Binance’s global survey provide an insightful snapshot of user preferences, expectations and behaviors as we move into 2025. The cautious yet engaged approach of new adopters, combined with the long-term confidence of seasoned users, underscores the growing maturity and resilience of the crypto space. As trends like increased regulation, accelerated adoption and innovative blockchain applications continue to unfold, Binance remains committed to empowering its global community with tools, resources and opportunities to navigate and thrive in this ever-evolving landscape. Together, we look forward to an exciting year ahead, fueled by the shared vision we have with our community of financial freedom and technological innovation. This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on Twitter Facebook Telegram Check out the Latest Industry Announcements The post Binance Global User Survey – 45% Joined Crypto in 2024 appeared first on The Daily Hodl . The Daily Hodl