Dennis Porter, co-founder and CEO of the Satoshi Motion Fund (SAF), announced at Michael Saylor’s $100K Recent Yr’s Eve Bitcoin Party in Miami that a US state is on the point of initiating BTC purchases inside the subsequent 4 months.

Bitcoin Adoption By US State Imminent

In the course of the event, Porter addressed a series of questions regarding the long run of state-level Bitcoin acquisition. When queried in regards to the prediction that a state would buy BTC by next 12 months—specifically Texas—Porter provided nuanced insights.

“It’s an important statement. It’s an accurate prediction, but I believe it’ll be just barely off. It is advisable to modulate it to be considered one of the primary states to place Bitcoin on the balance sheet. Since the Texas bill actually doesn’t allow Texas to purchase. It only allows for donations and taxes to be paid,” Porter clarified.

Elaborating on the mission of the Satoshi Motion Fund, Porter explained that SAF operates as a nonprofit dedicated to advocating for Bitcoin by educating lawmakers and regulators about its advantages. The organization not only promotes Bitcoin adoption but additionally develops model policies to be enacted into law.

So far, SAF has introduced 30 bills across 20 states, effectively reaching roughly half of america. Porter highlighted that their efforts extend beyond laws introduction, as SAF collaborates closely with lawmakers to make sure successful passage of those bills.

Addressing the protection of Bitcoin rights, Porter mentioned, “Bitcoin rights, the right to self-custody, the correct to mine, the correct to run a node, the correct to peer-to-peer transactions are protected now in 4 different states, Oklahoma, Louisiana, Arkansas and Montana. But we’re just getting began. There’s going to be an entire lot more states.”

Waiting for 2025, Porter expressed optimism about further legislative advancements: “We now have no less than, I’d say, 10 states, possibly as much as 12 states which might be going to introduce strategic Bitcoin reserve laws.” When pressed in regards to the nature of the upcoming laws’s passage, Porter assured, “It could occur very fast. In reality, we have already got a state that we expect is a near 100% guarantee to pass our laws into law.”

While Porter avoided disclosing the precise state involved, citing the necessity to “protect the policy process,” he emphasized the knowledge of the upcoming acquisition. “It’s going to occur inside the subsequent 4 months. So what’s going to occur is there’s a state that has a task force. They meet within the offseason. And what they do is they are saying, OK, we like this bill or we don’t like this bill. Every bill they’ve passed out of that task force within the last several years, every bill that they said they like passes into law.”

Notably, Porter disclosed that this Strategic Bitcoin Reserve bill just passed out of that task force. “So we give it a near 100% probability that our bill will pass into law and that state will have the option to begin buying Bitcoin,” Porter concluded.

At press time, BTC traded at $96,599.

Featured image created with DALL.E, chart from TradingView.com