Bitcoin Lobbyist Says Multiple US States Eyeing BTC Reserves In 2025

2 weeks ago 7

Following the election of Donald Trump as the 47th President of the United States, the establishment of a “Strategic Bitcoin Reserve” has emerged as a pivotal topic. The proposal, prominently advocated during Trump’s campaign, aims to position the United States at the forefront of global BTC adoption and financial innovation.

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 with FOX Business, stating, “Who knows maybe we’ll pay off our $35 trillion, hand him a little crypto check, right we’ll hand him a little Bitcoin and wipe out our $35 trillion. […] it is a different form of a currency and it’s going to end up benefiting the country […] if we don’t embrace it, other countries are going to embrace it.”

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

US States To Propose Bitcoin Reserve Bills In 2025

In parallel, lobbyist Dennis Porter, CEO and co-rounder of Satoshi Act Fund, has indicated that the momentum for establishing BTC reserves is expanding beyond federal initiatives. On Thursday, Porter commented, “I’ve 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.”

He further asserted, “BREAKING: 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.”

BREAKING: I can confirm that in 2025, multiple states will have Strategic Bitcoin Reserve legislation introduced.

— Dennis Porter (@Dennis_Porter_) November 7, 2024

Porter continued to amplify these developments on Friday, November 8, stating, “BREAKING: I can confirm that additional state lawmakers have reached out to me today to request assistance passing a ‘Strategic Bitcoin Reserve’ after winning their elections. Tag your state lawmaker below if you want your state to join the Strategic Bitcoin Reserve movement.” He added a little later: “UPDATE: KEEP TAGGING WE JUST HAD ANOTHER STATE LAWMAKER JOIN THE SBR MOVEMENT!”

Despite the growing advocacy, the realization of a national BTC reserve involves substantial legislative and regulatory challenges. The initiative’s feasibility remains uncertain, with current betting markets reflecting skepticism. For instance, Polymarket’s odds on the question “Will Trump create a national Bitcoin reserve?” by April 29, 2025, stand at 33% for a “Yes” outcome.

Will Trump create a national Bitcoin reserve?

However, Senator Lummis remains a steadfast proponent of the initiative. “A Strategic Bitcoin Reserve will allow the US to address a meaningful portion of our debt + strengthen our hand. See ‘Currency Wars’ for a good primer on the ‘stupid games, stupid prizes’ cycle we are in. Let’s break the cycle and refocus on a prosperous future for Americans,” Lummis stated on Thursday via X.

She engaged with Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director under Trump, who remarked, “Time to focus on something the market isn’t 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.”

At press time, BTC traded at $75,952.