Dennis Porter, CEO and founding father of the Satoshi Act Fund—a US nonprofit advocating for Bitcoin adoption—has claimed that former President Donald Trump’s group is contemplating an government order to ascertain a nationwide Strategic Bitcoin Reserve (SBR). This transfer goals to place the federal authorities forward of particular person states which can be contemplating related laws.
Trump Considers Government Order For The Bitcoin Reserve
“I’ve heard that the Trump group is contemplating an Government Order for a Nationwide ‘Strategic Bitcoin Reserve’ in an effort to beat any state from passing it into legislation first,” Porter leaked on November 18 by way of X. “I can affirm that US Senate workplaces are backing this plan up. Sport on President Trump. The race is on.”
Porter, who has been deeply concerned in legislative efforts surrounding BTC adoption, added that his info comes from “non-public conversations with folks acquainted” with the matter and his direct involvement in selling SBR language throughout america and internationally.
Supporting his declare, Porter pointed to his earlier prediction: “I used to be the primary to announce that Donald Trump would create a ‘Strategic Bitcoin Reserve’ on July 18th 2024. How did I do know this earlier than anybody else? It’s the identical motive I do know that Trump’s group is pushing to create a ‘Strategic Bitcoin Reserve’ by way of Government order.”
Certainly, ten days previous to Trump’s speech on the Bitcoin 2024 convention—the place the previous president introduced plans to ascertain a nationwide SBR utilizing BTC confiscated by legislation enforcement—Porter had tweeted on July 18: “Trump to announce a USA Bitcoin strategic reserve in Nashville.”
On November 19, Porter additionally emphasised the urgency of Trump making the SBR occur as rapidly as potential, stating: “Trump won’t have a lot time to challenge an government order to create a ‘Strategic Bitcoin Reserve’ earlier than one of many states beats him to it and begins shopping for Bitcoin first. It’s probably we cross an SBR invoice on the state degree inside days of Donald Trump taking the Oval Workplace.”
Porter’s credibility stems from his shut ties to political circles and his observe report in advancing BTC-friendly laws. He has been instrumental in securing legal guidelines that defend BTC mining and self-custody rights in a number of US states. Notably, final week, Pennsylvania launched a SBR Invoice permitting the State Treasurer to spend money on BTC—a transfer through which Porter performed a key position.
Moreover, on Sunday, Porter introduced that the Satoshi Act Fund had open-sourced its ‘Strategic Bitcoin Reserve’ mannequin coverage. “Inside hours of ‘open-sourcing’ our ‘Strategic Bitcoin Reserve’ laws, a number of lawmakers and a presidential candidate endorsed the coverage and vowed to cross it into legislation,” he revealed.
Including weight to Porter’s assertions, David Bailey, CEO of BTC Inc and a key advisor to the Trump group, additionally signaled imminent federal motion. On November 15, Bailey declared by way of X: “SBR is occurring.”
Later that day, he elaborated: “The decision from the specialists is the President has the authority to ascertain the SBR with out Congress and implement a reasonably large acquisition program (tens of billions of $). To go greater we’ll want Congress, however we are able to begin straight away at a MicroStrategy-esque scale.”
As Bitcoinist reported, there are rising rumors that different nation-states are performing swiftly to ascertain their very own BTC reserves, doubtlessly outpacing america. Bailey underscored this concern: “Let me be clear, america is being front-run on its Bitcoin technique and should rise up the SBR as rapidly as potential. It’s actually a nationwide safety challenge.”
On November 9, Bailey hinted on the scale of worldwide accumulation: “There’s a minimum of one nation state that has been actively buying Bitcoin and is now a prime 5 holder. Hopefully we hear from them quickly.” He strengthened his assertion with a meme emphasizing that his info relies on concrete information moderately than hypothesis.
At press time, BTC traded at $91,955.
Featured picture created with DALL.E, chart from TradingView.com