Dennis Porter, the CEO and founder of the Satoshi Act Fund\u2014a nonprofit in the U.S. promoting Bitcoin adoption\u2014has stated that Donald Trump\u2019s team is exploring the idea of an executive order to create a national Strategic Bitcoin Reserve (SBR). This initiative seeks to place the federal government ahead of states looking to pass similar laws.<\/p>\n
On November 18, Porter revealed via X that, \u201cI\u2019ve heard that the Trump team is considering an Executive Order for a National \u2018Strategic Bitcoin Reserve\u2019 to preempt any state from passing legislation first.\u201d He added, \u201cUS Senate offices are supporting this initiative. It\u2019s on, President Trump. The competition has begun.\u201d<\/p>\n
Porter, who has been actively involved in legislative efforts advocating for Bitcoin, mentioned that his knowledge comes from \u201cprivate discussions with insiders\u201d and his direct work in pushing for SBR discussions throughout the U.S. and beyond.<\/p>\n
Backing up his claims, Porter highlighted a previous prediction: \u201cI was the first to announce that Donald Trump would create a \u2018Strategic Bitcoin Reserve\u2019 on July 18th, 2024. How did I know? It\u2019s the same reason I\u2019m aware that Trump\u2019s team is pursuing this via executive order.\u201d<\/p>\n
Notably, ten days before Trump spoke at the Bitcoin 2024 conference\u2014where he unveiled plans for a national SBR utilizing Bitcoin seized by law enforcement\u2014Porter had tweeted on July 18, suggesting Trump would reveal a U.S. Bitcoin strategic reserve in Nashville.<\/p>\n
On November 19, Porter reiterated the importance of Trump quickly implementing the SBR, stating, \u201cTrump has limited time to issue an executive order before a state beats him to it and starts purchasing Bitcoin. It\u2019s very likely a state-level SBR bill will pass shortly after Donald Trump assumes the presidency.\u201d<\/p>\n
Porter\u2019s credibility follows his strong connections in political circles and his efforts in advancing Bitcoin-friendly legislation. He has been significant in securing laws that support Bitcoin mining rights and self-custody in multiple states. Recently, Pennsylvania introduced an SBR Bill allowing the State Treasurer to invest in Bitcoin, a move influenced by Porter.<\/p>\n
Additionally, Porter announced that the Satoshi Act Fund had made its \u2018Strategic Bitcoin Reserve\u2019 model policy freely available. \u201cAfter we \u2018open-sourced\u2019 our legislation, several lawmakers and a presidential candidate quickly endorsed it and committed to passing it,\u201d he shared.<\/p>\n
Further bolstering Porter\u2019s claims, David Bailey, CEO of BTC Inc and a key member of the Trump team, hinted at imminent federal action. On November 15, Bailey stated via X: \u201cThe SBR is happening.\u201d<\/p>\n
That same day, he elaborated: \u201cExperts agree the President has the authority to create the SBR without Congress and can initiate a significant acquisition program (in the tens of billions). To scale up further, we\u2019ll need Congressional approval, but we can start at a MicroStrategy-like level immediately.\u201d<\/p>\n
As noted by Bitrabo, speculation is mounting that other countries are swiftly establishing their own Bitcoin reserves, potentially outracing the U.S. Bailey emphasized the urgency: \u201cThe United States is being outpaced on its Bitcoin strategy and needs to establish the SBR as soon as possible. This is fundamentally a national security matter.\u201d<\/p>\n
On November 9, Bailey indicated the scale of international Bitcoin acquisition, mentioning, \u201cAt least one nation-state has been actively buying Bitcoin, positioning itself among the top five holders. We should hear from them soon.\u201d He reinforced the credibility of his claims with a meme indicating that his information is based on solid knowledge, not mere conjecture.<\/p>\n
As of the latest update, Bitcoin is trading at $91,955.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Dennis Porter, the CEO and founder of the Satoshi Act Fund\u2014a nonprofit in the U.S. promoting Bitcoin adoption\u2014has stated that Donald Trump\u2019s team is exploring the idea of an executive order to create a national Strategic Bitcoin Reserve (SBR). This initiative seeks to place the federal government ahead of states looking to pass similar laws. […]<\/p>\n","protected":false},"author":14,"featured_media":23230,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Trump Contemplates Strategic Bitcoin Reserve via Executive Action - Bitrabo","description":"Dennis Porter, the CEO and founder of the Satoshi Act Fund\u2014a nonprofit in the U.S. promoting Bitcoin adoption\u2014has stated that Donald Trump's team is exploring t"},"footnotes":""},"categories":[316],"tags":[448,544,713,1274,10266,1555,1106,3998,2377],"class_list":["post-23229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-considers","tag-executive","tag-insider","tag-leaks","tag-order","tag-reserve","tag-strategic","tag-trump"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/23229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=23229"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/23229\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/23230"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=23229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=23229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=23229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}