The nonprofit Satoshi Action Fund recently revealed that up to 20 Strategic Bitcoin Reserve (SBR) bills will be introduced at the state level in the U.S. soon. This is a strong move to promote the integration of $BTC into the financial strategies of states.
Vision and Implementation Plan
• Dennis Porter, CEO and co-founder of Satoshi Action Fund, stated that 13 states are ready to introduce and pass SBR bills.
• The organization aims to double the number of states with Bitcoin-supportive laws to 20 by 2025. Previously, they helped pass 4 Bitcoin-related bills and supported bringing these bills into the legislative process in 20 other states.
Legal Process
The Strategic Bitcoin Reserve bill will be presented to the Senate or House in the states:
1. Initial review: The bill will be subject to a hearing, with 7 to 21 legislators participating in the vote.
2. Full chamber vote: If approved by a majority (over 51%), the bill proceeds to the full chamber vote.
3. Move to the other chamber: After passing in one chamber, the bill will be reviewed in the other chamber to complete the process.
Dennis Porter commented that tight deadlines at the state level will help accelerate progress compared to the federal process. States can pass or reject the bill as early as this summer.
Benefits of Strategic Bitcoin Reserves (SBR)
Experts believe that adding Bitcoin to strategic reserves brings several significant benefits:
• Inflation hedge: With a fixed supply of 21 million coins, #bitcoin is a tool to protect assets against the depreciation of fiat currency.
• Flexibility: Bitcoin is easily divisible, transferable, and censorship-resistant, providing an advantage over traditional reserve assets.
• Asset diversification: Integrating Bitcoin helps states reduce dependence on the USD, enhance financial sovereignty, and strengthen resilience against global economic instability.
Satoshi Action Fund: The Pioneer of Crypto Law
Founded in 2022, #SatoshiActionFund made history by helping to pass laws such as the 'Right to Mine' and 'Right to Self-Custody' in 4 U.S. states.
Dennis Porter and the team are gradually making Bitcoin the centerpiece of financial strategies, aiming to make #crypto a tool for innovation and economic stability.
Conclusion
With these efforts, Bitcoin's official recognition in the financial reserves of U.S. states is no longer a distant prospect. However, success will depend on overcoming legal and political barriers in the near future.
Risk Warning
The crypto market always carries significant risks. Investment or policy decisions should be carefully considered before implementation.