After the election of Donald Trump as the 47th President of the United States, the creation of a “Strategic Bitcoin Reserve” became a key topic. The proposal, clearly promoted during the Trump campaign, aims to place the United States at the forefront of global BTC adoption and financial innovation.
During the Bitcoin 2024 conference in Nashville 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 with FOX Business, stating: “Who knows, maybe we’ll pay off our $35 trillion, hand him a small crypto check, and now we’ll hand him some Bitcoin and get rid of our $35 trillion. […] it is another form of currency that will benefit the country […] If we don’t accept it, other countries will accept it.”
On November 6, Republican Senator Cynthia Lummis reaffirmed her commitment to establishing a Strategic Reserve through the BITCOIN Act of 2024. Through X, she stated: “WE WILL BUILD A STRATEGIC BITCOIN RESERVE.” The legislation proposes ordering the Treasury to acquire 1 million BTC over five years and establishing unthreatening vaults managed by the Treasury.
US States Will Propose Bitcoin Reserve Bills in 2025
At the same time, lobbyist Dennis Porter, CEO and co-founder of the Satoshi Act Fund, did so indicated that the dynamics of BTC reserve creation go beyond federal initiatives. On Thursday, Porter commented: “I have spoken to pro-Bitcoin lawmakers around the world. You wouldn’t believe the level of excitement the United States has regarding Bitcoin. When the United States leads on Bitcoin, it empowers lawmakers around the world to continue to develop Bitcoin. Extremely bullish on global Bitcoin adoption.”
He then assured: “BREAKING: I can confirm that strategic Bitcoin reserves legislation will be introduced in many states in 2025. This will be implemented in cooperation with the Satoshi Act Fund, which is developing model policies, including the Bitcoin Strategic Reserve Policy.”
BREAKING: I can confirm that strategic Bitcoin reserves legislation will be introduced in many states in 2025.
— Dennis Porter (@Dennis_Porter_) November 7, 2024
Porter continued to publicize these developments on Friday, November 8, stating: “BREAKING: I can confirm that additional state lawmakers contacted me today to ask for help in passing a ‘Strategic Bitcoin Reserve’ after winning the election. Tag your state legislator below if you would like your state to join the Bitcoin Strategic Reserve movement.” A little later, he added, “UPDATE: MAKE SURE YOU STIR, ANOTHER STATE LEGISLATOR JUST JOINED THE SBR MOVEMENT!”
Despite growing support, the implementation of a national BTC reserve faces significant legislative and regulatory challenges. The feasibility of the initiative remains uncertain, with current betting markets showing skepticism. For example, Polymarket’s odds on the question “Will Trump Create a National Bitcoin Reserve?” by April 29, 2025 is 33% for the answer “yes”.
However, Senator Lummis remains a steadfast supporter of this initiative. “The Strategic Bitcoin Reserve will allow the United States to address a significant portion of our debt and strengthen our hand. See “Currency Wars” for a good introduction to the “dumb games, dumb prizes” cycle we find ourselves in. Let’s break this cycle and refocus on a successful future for Americans,” Lummis said Thursday via X.
She connected with Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director under Trump, who noted: “It’s time to focus on something the market doesn’t fully understand: by the middle of next year, if Sen. Lummis has his way, The US will have a strategic reserve of Bitcoins. This will force other central banks to do the same. That would be monumental.”
At the time of publication, the price of BTC was $75,952.
Featured image created with DALL.E, chart from TradingView.com
