U.S. States to Propose Bitcoin Strategic Reserve Legislation

Dennis Porter, founder and CEO of the Satoshi Act Fund, has announced a groundbreaking initiative to establish sovereign Bitcoin reserves in ten U.S. states. This legislative push comes amid increasing global competition to secure Bitcoin as a strategic asset.

State-Level Momentum for Bitcoin Reserves

In a recent social media update, Porter revealed that ten states are set to introduce "Strategic Bitcoin Reserves" legislation. This effort, led by the Satoshi Act Fund, seeks to position the U.S. as a global leader in Bitcoin adoption and reserve management.

“I can now officially confirm and announce that 10 states will be introducing ‘Strategic Bitcoin Reserves’ legislation here in the great United STATES of America. We are going to win with Bitcoin. We will lead the world. No one will come close. The world will follow our lead,” Porter stated.

Collaboration with Federal Lawmakers

Porter also disclosed ongoing discussions with Wyoming Senator Cynthia Lummis, a prominent Bitcoin advocate. Lummis's proposed BITCOIN ACT aims to transfer 207,000 BTC seized by U.S. authorities to the Treasury Department, convert U.S. gold certificates to fund additional BTC purchases, and build a national reserve of one million Bitcoin over five years.

The initiative aligns with plans announced by President Donald Trump to create a federal Bitcoin reserve using the government’s existing $19 billion in seized crypto holdings.

“The race is on. Let the game theory begin,” Porter tweeted, underscoring his confidence that state-level legislation could precede federal action unless President Trump issues an executive order immediately upon taking office.

States and Nations Embrace Bitcoin Reserves

Pennsylvania has already set a precedent by legalizing Bitcoin payments and self-custody, while introducing a bill to establish a state Bitcoin reserve in November.

Globally, other nations are exploring similar initiatives. In Brazil, Senator Eros Biondini has proposed a national Bitcoin reserve, urging President Luiz Inácio Lula da Silva to consider the legislation.

The Bigger Picture

As Bitcoin’s fixed supply of 21 million coins becomes increasingly scarce, governments and states are vying for a share of this finite resource. These efforts highlight Bitcoin’s growing importance as a strategic asset in an evolving financial landscape.

The race to secure Bitcoin reserves is accelerating, with the U.S. poised to lead the charge both at the state and federal levels.