The subject of a possible implementation of a Strategic Bitcoin Reserve by the U.S. government is getting the spotlight in mainstream media due to its potential consequences. Dennis Porter, CEO and co-founder of the Satoshi Action Fund, an organization that helps guide lawmakers in the U.S. and worldwide to implement bitcoin-linked policies, has released a general Strategic Bitcoin Reserve model to allow lawmakers to draft similar legislation.
The open-sourced model includes considerations that justify the introduction of bitcoin reserves including inflation and the responsibility of states to safeguard their financial resources. It also established 10% as a benchmark number for this reserve, declaring that “the amount of public funds that the state treasurer may invest in Bitcoin may not exceed 10% of the total amount of public funds.”
Porter stated that only hours after the publication of this model, several lawmakers had contacted him endorsing it and vowing to pass it into law. Also, Slawomir Metzen, a presidential Polish candidate, declared in favor of establishing a crypto stockpile if he wins. “Our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators,” he stressed.
However, the enactment of a Strategic Bitcoin reserve in the U.S. might come from President-Elect Trump, who would be considering taking action into his own hands. “I’ve heard that the Trump team is considering an Executive Order for a National ‘Strategic Bitcoin Reserve’ in order to beat any state from passing it into law first,” he reported.
Before, Porter declared that he was in contact with several lawmakers from 5 different countries to introduce similar laws in their nations.
Read more: Satoshi Action Fund’s Dennis Porter Heralds the Arrival of Nation-State Hyperbitcoinization
