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Dennis Porter US Strategic Bitcoin reserve US States

Strategic Bitcoin Reserve Process Begins In 14 US States This Month, Says Insider

Jake Simmons
by Jake Simmons
7 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Dennis Porter, co-founder and chairman of the 501(c)(4) non-profit Satoshi Action Fund, has revealed a significant development in US state-level Bitcoin initiatives. On December 7, via X, he declared, “A 14th state is now poised to introduce ‘Strategic Bitcoin Reserve’ legislation.”

Previously, Porter had disclosed that he was working with 13 different states on proposals to establish a Strategic Bitcoin Reserve (SBR). Notably, Porter was instrumental in helping several states pass pro-Bitcoin laws in the past, and his ongoing lobbying efforts center on establishing SBR’s in several US states.

When Will US States Establish A Bitcoin Reserve?

Porter explained that many people have asked him, “when will the process start for ‘Strategic Bitcoin Reserve’ legislation at the state level,” prompting him to outline a detailed roadmap that he expects most states to follow. According to him, a proposed bill can either originate in a state’s House or Senate; once it is officially introduced, it must pass an initial hearing before a relatively small group of lawmakers who determine whether it should move forward.

Related Reading: Bitcoin Reserve Might Be Established By Potential Next Canadian PM, Expert Suggests

A simple majority is typically needed in that hearing for the bill to advance to a floor vote in the same legislative chamber. If it obtains a simple majority in that floor vote, it proceeds to the second chamber, where lawmakers again hold a hearing followed by a chamber-wide floor vote.

Should the bill pass in the second chamber, it is then sent to the Governor’s desk for signature or veto. Porter stressed that “If the Governor signs the bill, then the legislation is law:” He added: “It’s filled with potential land mines that could kill a bill at any moment,” emphasizing the fragility of the process and the importance of continuous advocacy efforts.

Porter shared that timelines for legislative action in most states will begin this month, explaining that “In most states this process starts this month. Additionally, in most states, the legislative cycle ends quickly. Most states are part-time legislatures. So a lot of this activity will take place very quickly over the next six months.”

Related Reading: Strategic Bitcoin Reserve Proposed By Multiple Chilean Lawmakers

With part-time legislatures, state lawmakers convene for relatively short sessions, often just a few months in length. This compressed schedule means that any proposal on the table faces a concentrated period of discussion, negotiation, and votes, offering limited windows for success or failure.

Porter called these deadlines a “forcing mechanism for action,” stating, “The benefit of working at the state level is there are fast and hard deadlines. A bill either sinks or swims very quickly.” He said that, by summer, many states will have either adopted a strategic Bitcoin reserve or not, given the short and decisive nature of the legislative cycle in those particular jurisdictions.

However, Porter also noted that not all states operate under the same time constraints. Some, such as Ohio and Pennsylvania, have year-round legislatures, meaning there is more time to advance legislative measures or amend proposals. While more flexible, these extended cycles can delay the final outcome.

Porter indicated that the multi-state effort intentionally accounts for these variations by working simultaneously on identical or near-identical bills, with each state legislature proceeding at its own pace. This approach, he suggested, “dramatically increases the odds that we will get critical legislation like Strategic Bitcoin Reserve across the finish line,” since the success of one bill can build momentum or offer lessons for others.

At press time, BTC traded at $101,618.

Bitcoin price
Bitcoin faces key resistance, 4-hour chart | Source: BTCUSDT on TradingView.com
Featured image from YouTube, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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