{"id":2380,"date":"2024-11-09T09:32:21","date_gmt":"2024-11-09T09:32:21","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2380"},"modified":"2024-11-09T09:32:21","modified_gmt":"2024-11-09T09:32:21","slug":"bitcoin-lobbyist-says-multiple-us-states-eyeing-btc-reserves-in-2025","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2380","title":{"rendered":"Bitcoin Lobbyist Says Multiple US States Eyeing BTC Reserves In 2025"},"content":{"rendered":"
\n

Following the election of Donald Trump as the 47th President of the United States, the establishment of a \u201cStrategic Bitcoin Reserve\u201d has emerged as a pivotal topic. The proposal, prominently advocated<\/a> during Trump\u2019s campaign, aims to position the United States at the forefront of global BTC adoption and financial innovation.<\/p>\n

During the Bitcoin 2024 conference in Nashville held in July, President-elect Trump pledged to retain all BTC currently held or acquired by the US government. He articulated his vision in an interview<\/a> with FOX Business, stating, \u201cWho knows maybe we\u2019ll pay off our $35 trillion, hand him a little crypto check, right we\u2019ll hand him a little Bitcoin and wipe out our $35 trillion. [\u2026] it is a different form of a currency and it\u2019s going to end up benefiting the country [\u2026] if we don\u2019t embrace it, other countries are going to embrace it.\u201d<\/p>\n

On November 6, Republican Senator Cynthia Lummis reaffirmed<\/a> her commitment to establishing a strategic reserve through the BITCOIN Act of 2024. Via X, she stated, \u201cWE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE.\u201d The legislation proposes directing the Treasury to acquire 1 million BTC over five years and to establish Treasury-managed secure vaults.<\/p>\n

US States To Propose Bitcoin Reserve Bills In 2025<\/h2>\n

In parallel, lobbyist Dennis Porter, CEO and co-rounder of Satoshi Act Fund, has indicated<\/a> that the momentum for establishing BTC reserves is expanding beyond federal initiatives. On Thursday, Porter commented, \u201cI\u2019ve been speaking to pro-Bitcoin lawmakers across the world. You would not believe the level of excitement that the USA is leading on Bitcoin. When the USA leads on Bitcoin it empowers lawmakers worldwide to move Bitcoin forward. Extremely Bullish on global Bitcoin adoption.\u201d<\/p>\n

He further asserted, \u201cBREAKING: I can confirm that in 2025, multiple states will have Strategic Bitcoin Reserve legislation introduced. This will be in partnership with Satoshi Act Fund which crafts model policies including Strategic Bitcoin Reserve policy.\u201d<\/p>\n

\n

BREAKING: I can confirm that in 2025, multiple states will have Strategic Bitcoin Reserve legislation introduced.<\/p>\n

\u2014 Dennis Porter (@Dennis_Porter_) November 7, 2024<\/a><\/p>\n<\/blockquote>\n

Porter continued to amplify these developments on Friday, November 8, stating, \u201cBREAKING: I can confirm that additional state lawmakers have reached out to me today to request assistance passing a \u2018Strategic Bitcoin Reserve\u2019 after winning their elections. Tag your state lawmaker below if you want your state to join the Strategic Bitcoin Reserve movement.\u201d He added a little later: \u201cUPDATE: KEEP TAGGING WE JUST HAD ANOTHER STATE LAWMAKER JOIN THE SBR MOVEMENT!\u201d<\/p>\n

Despite the growing advocacy, the realization of a national BTC reserve involves substantial legislative and regulatory challenges. The initiative\u2019s feasibility remains uncertain, with current betting markets reflecting skepticism. For instance, Polymarket\u2019s odds on the question \u201cWill Trump create a national Bitcoin reserve?\u201d by April 29, 2025, stand at 33% for a \u201cYes\u201d outcome.<\/p>\n

\"Will<\/p>\n

However, Senator Lummis remains<\/a> a steadfast proponent of the initiative. \u201cA Strategic Bitcoin Reserve will allow the US to address a meaningful portion of our debt + strengthen our hand. See \u2018Currency Wars\u2019 for a good primer on the \u2018stupid games, stupid prizes\u2019 cycle we are in. Let\u2019s break the cycle and refocus on a prosperous future for Americans,\u201d Lummis stated on Thursday via X.<\/p>\n

She engaged with Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director under Trump, who remarked, \u201cTime to focus on something the market isn\u2019t completely understanding: By the middle of next year if Sen. Lummis has her way the US will have a strategic Bitcoin Reserve. It will force other central banks to do the same. That would be monumental.\u201d<\/p>\n

At press time, BTC traded at $75,952.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

Following the election of Donald Trump as the 47th President of the United States, the establishment of a \u201cStrategic Bitcoin Reserve\u201d has emerged as a pivotal topic. The proposal, prominently advocated during Trump\u2019s campaign, aims to position the United States at the forefront of global BTC adoption and financial innovation. During the Bitcoin 2024 conference […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2380","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2380"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2380\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}