Dennis Porter, who co-founded and currently chairs the Satoshi Action Fund, a non-profit organization, has announced noteworthy progress regarding Bitcoin measures at the state level in the US. On December 7, he shared on X that \u201ca 14th state is now set to propose \u2018Strategic Bitcoin Reserve\u2019 legislation.\u201d<\/p>\n
Porter has previously mentioned his collaboration with 13 states on proposals aimed at creating a Strategic Bitcoin Reserve (SBR). He has played a critical role in the passage of pro-Bitcoin legislation in various states and continues to advocate for the establishment of SBRs across the US.<\/p>\n
Porter elaborated that many are inquiring about the timeline for the initiation of \u2018Strategic Bitcoin Reserve\u2019 legislation at the state level. He provided a structured plan that he anticipates most states will follow. According to him, a proposed law can be introduced within either the House or the Senate of a state; after its introduction, it must go through an initial hearing with a select group of legislators who will decide its progression.<\/p>\n
Typically, gaining a simple majority in that first hearing is necessary for the bill to move on to a full vote in the same chamber. If it achieves a simple majority there, it advances to the other chamber, where another round of hearings and votes take place.<\/p>\n
If the second chamber approves the bill, it is forwarded to the Governor for a signature or veto. Porter emphasized the importance of this step, stating, \u201cIf the Governor signs the bill, then it becomes law.\u201d He indicated the process can be precarious, filled with potential setbacks that could end a bill\u2019s journey at any stage, highlighting the need for ongoing advocacy.<\/p>\n
Porter mentioned that this month marks the beginning of legislative action in most states, stating that \u201cin many cases, this process kicks off now. Furthermore, legislative sessions in various states end promptly.\u201d Most states are characterized by part-time legislatures, resulting in a swift course of action over the ensuing months.<\/p>\n
Part-time legislative sessions are typically brief, often spanning only a few months. Such tight schedules create limited opportunities for proposals to be actively debated, negotiated, and voted on, resulting in both rapid action and potential challenges.<\/p>\n
Porter described these time constraints as a motivator for action, remarking, \u201cThe advantage of working at the state level is that there are strict deadlines. A bill progresses or fails impressively quickly.\u201d He anticipates that by summer, many states will either have implemented a strategic Bitcoin reserve or have decided against it due to the rapid legislative cycle.<\/p>\n
Nonetheless, Porter acknowledged that some states, such as Ohio and Pennsylvania, operate with year-round legislative processes, providing more opportunities to develop or revise legislative proposals. Although this flexibility can delay outcomes, it offers a different kind of strategic advantage.<\/p>\n
To navigate the diverse legislative timelines, Porter indicated that the multi-state initiative is designed to address these variations by pursuing similar or identical proposals concurrently. He suggested that this strategy \u201csignificantly enhances our chances of successfully passing critical legislation like the Strategic Bitcoin Reserve,\u201d as the success of one state can inspire and provide insights for others.<\/p>\n
As of the latest update, Bitcoin’s value is $101,618.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Dennis Porter, who co-founded and currently chairs the Satoshi Action Fund, a non-profit organization, has announced noteworthy progress regarding Bitcoin measures at the state level in the US. On December 7, he shared on X that \u201ca 14th state is now set to propose \u2018Strategic Bitcoin Reserve\u2019 legislation.\u201d Porter has previously mentioned his collaboration with […]<\/p>\n","protected":false},"author":14,"featured_media":25843,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin Reserve Strategy Launches Across 14 States This Month, Insider Reveals - Bitrabo","description":"Dennis Porter, who co-founded and currently chairs the Satoshi Action Fund, a non-profit organization, has announced noteworthy progress regarding Bitcoin measu"},"footnotes":""},"categories":[316],"tags":[475,448,1274,1739,4894,1106,3072,3998],"class_list":["post-25842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-begins","tag-bitcoin","tag-insider","tag-month","tag-process","tag-reserve","tag-states","tag-strategic"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/25842","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=25842"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/25842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/25843"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=25842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=25842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=25842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}