One of the lawmakers from Texas has started developing a proposal to create a strategic reserve of digital gold. This was announced by CEO of the Satoshi Action Fund (SAF) Dennis Porter.

Texas ranks eighth in the world by GDP volume ($2.4 trillion as of 2022), according to state controller data.

In addition to protecting against inflation, the initiative will secure mining of the first cryptocurrency in the US.

"The margin on digital gold mining is 'razor-thin'. All it takes is a couple of external players, Russia, China, to say: […] we will just destroy all such business in this country," the expert suggested.

According to Porter, a more active role of the US authorities could serve as a counterbalance as a "buffer for all miners".

He stated that a bitcoin reserve is comparable to other historical decisions that helped shape modern America, such as the purchases of Louisiana, Florida, and Alaska.

According to the CEO of SAF, after Trump's promises, the idea "gained incredible momentum" regarding the adoption of the corresponding law.

On November 12, a bill was introduced in the Pennsylvania House of Representatives that will allow the state to hold bitcoin as a reserve asset.