Satoshi Action Fund pushes for strategic Bitcoin reserve legislation
Satoshi Action Fund pushes for state-level Bitcoin reserves
Dennis Porter, co-founder of the Satoshi Action Fund, has announced an ambitious plan to introduce up to 20 "Strategic Bitcoin Reserve" (SBR) bills at the state level. Some states may even have multiple bills introduced simultaneously as lawmakers compete to be the first to pass this groundbreaking legislation.
In a post on X, Porter stated that most of these bills will be modeled after the Satoshi Action Fund’s SBR framework. He emphasized that the bills will follow a six-step legislative process, with several states expected to begin the process this month.
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Porter also highlighted the complexity of the legislative process, calling it "filled with potential land mines that could kill a bill at any moment." This uncertainty is why the Satoshi Action Fund is pursuing multiple bills across different states simultaneously to increase the chances of success.
Legislative process challenges
He also pointed out the issue posed by part-time legislative cycles in most states, where sessions typically last only a few months. This creates a compressed timeline that requires swift action to advance the bills. Porter noted that advocates expect significant progress over the next six months, aiming to establish Bitcoin reserves in several states by summer.
Opportunities and challenges for SBR approval
While part-time legislative schedules add urgency, some states, such as Ohio and Pennsylvania, have year-round sessions, potentially lengthening the process. Despite this, the momentum behind SBR bills reflects growing interest in Bitcoin adoption at the state level.
Porter’s statement underscores a strategic push for broader acceptance of Bitcoin-backed financial policies, with advocates aiming to position their states as leaders in digital asset innovation. The Satoshi Action Fund’s coordinated efforts indicate a pivotal moment for Bitcoin’s role in state-level financial strategies.
It is worth recalling that David Bailey, CEO of Bitcoin Magazine, previously stated that Donald Trump could create a strategic Bitcoin reserve without Congress’s approval.
