Dennis Porter, CEO and Co-Founding father of the Satoshi Act Fund, has announced that ten US states are poised to introduce laws to determine a Strategic Bitcoin Reserve (SBR) on the state level. Notably, the Satoshi Act Fund was instrumental in Pennsylvania’s first-ver introduction of the Bitcoin Strategic Reserve Act, which allows the state to speculate as much as 10% of its funds in BTC.
10 US States Set To Establish A Strategic Bitcoin Reserve
“I can now officially confirm and announce that 10 states might be introducing ‘Strategic Bitcoin Reserves’ laws here in the good United States of America,” Porter declared via X on December 3. “We’re going to win with Bitcoin. We’ll lead the world. Nobody will come close. The world will follow our lead.”
Porter highlighted the logistical challenges of passing such laws across multiple states and appealed for financial support. “Passing laws in 10 states would require plenty of travel,” he noted. “We will pass bills if we’ve the funds. That is where you can assist.” He directed supporters to the fundraising page at donorbox.org/500kmatch, announcing a 60-day goal to lift $500,000, with the primary $50,000 to be matched.
The Satoshi Act Fund’s fundraising campaign goals to realize several key objectives. These include establishing SBRs across multiple states, passing BTC rights laws that guarantees the best to mine, self-custody, and run a node, and ending “Operation Chokepoint 2.0” which involves the debanking of BTC related corporations. The non-profit organization claims that “governments might be buying Bitcoin within the USA in lower than six months” as a part of this initiative.
Porter emphasized the organization’s track record to bolster confidence of their mission. The Satoshi Act Fund has already passed 4 bills into law in 4 different states, was the primary to introduce SBR laws, and has revamped 30 bill introductions across greater than 20 states. They’ve also sent 200,000 letters to lawmakers nationwide and provided over 20 testimonies at public hearings advocating for BTC.
As well as, Porter announced an upcoming announcement with US Senator Cynthia Lummis who introduced the Bitcoin Act of 2024 which goals to determine a federal SBR by buying 1 million BTC over five years. “In lower than 48 hours, I’ll join US Senator Cynthia Lummis to share a significant update within the progress for Strategic Bitcoin Reserves. Bitcoin is winning within the USA,” he wrote on X. The event is scheduled as an X Space tomorrow at 4 pm EST.
MASSIVE ₿REAKING: I can confirm that in lower than 48 hours, I’ll join U.S. Senator @CynthiaMLummis to share a significant update within the progress for ‘Strategic Bitcoin Reserves’.
Bitcoin is winning within the USA. 🇺🇸 https://t.co/iIylERPnky
— Dennis Porter (@Dennis_Porter_) December 3, 2024
Expressing a way of urgency and competition, Porter compared his efforts to those of President-elect Donald Trump who has vowed to determine a SBR on the Bitcoin 2024 conference in Nashville earlier this yr. “I’m convinced I’ll pass SBR laws on the state level before Donald Trump. The one way he wins is that if he does an executive order the very first week he’s in office. The race is on. Let the sport theory begin,” he stated.
At press time, BTC traded at $95,375.
Featured image created with DALL.E, chart from TradingView.com