- Satoshi Action Fund CEO, Dennis Porter announced up to 20 “Strategic Bitcoin Reserve” bills will be introduced at state level.
- Most states will have strategic Bitcoin reserves by summer if the bill gets passed.
As Bitcoin reclaimed the $100,000 mark, the market is filled with renewed hope for an upcoming larger bull run. Since the development of Bitcoin genesis block in 2009 to today, Bitcoin has grown tremendously in terms of market price and its adoption. Having limited supply and upward price trajectory over the years, it is often referred to as “digital gold.”
Thus, global countries are exploring ways to adopt Bitcoin for their reserves. As per latest announcement, states of the US are planning to introduce “Strategic Bitcoin Reserves” bills. In case these bills get passed and become a law, states will have Bitcoin Reserves in the next few months.
Lawmakers Compete to Introduce Strategic Bitcoin Reserves
MASSIVE BREAKING: Up to 20 ‘Strategic Bitcoin Reserve’ bills will be introduced at the state level – multiple bills in the same state – lawmakers competing aggressively to be the first in history.
— Dennis Porter (@Dennis_Porter_) January 7, 2025
The vast majority of these bills will be based on @SatoshiActFund SBR models. pic.twitter.com/ZCcqvGpf0G
Satoshi Action Fund CEO Dennis Porter posted on X stating, up to 20 Strategic Bitcoin Reserve bills will be introduced at the state level. He further hinted that multiple bills in the same state are also going to be introduced to increase the odds for Bitcoin strategic reserves. This implies an aggressive competition among US lawmakers to make history.
A majority of these bills will be based on Satoshi Action Fund’s SBR models. Being a key player in Bitcoin adoption at state level, firm’s CEO Dennis Porter takes this as an honor. In one of his other posts, Porter explained the process of each step the bill has to go through to get an approval.
The legislation process is complex and takes a lot of effort to get through each hurdle and become a law. This is one of the reasons why Satoshi Action Fund is planning to introduce multiple bills in multiple states simultaneously. Furthermore, the decision-making process is fast at the state level, which implies most of the states will come to a conclusion by summer.
Satoshi Action Fund announced its aim of passing a strategic Bitcoin reserve bill into law in November 2024. Within less than two months, it already started the process at state level and is also focusing on increasing the chances of approving the bill.
On the other hand, President-elect Donald Trump promised to make the US a crypto capital of the world. Trump also announced his plans to accumulate Bitcoin as a strategic asset. However, Fed chair Jerome Powell made a statement, saying they do not have authority to hold Bitcoin. Nonetheless, the commitment of Satoshi Action Fund and competition among lawmakers seems to make “Strategic Bitcoin Reserve” a reality soon.
