Dennis Porter, the founder of the Satoshi Action Fund, has presented a draft executive order to President-elect Donald Trump proposing the creation of a Strategic Bitcoin Reserve within the Exchange Stabilization Fund (ESF). The order suggests allocating up to 2% of the ESF's portfolio value to Bitcoin over an 18-month trial period. It outlines plans to incorporate Bitcoin into the ESF, treat it as a reserve asset, and cease the auction of confiscated Bitcoin. The proposal includes oversight measures such as regular audits and reports to ensure transparency. While the ESF is seen as an initial step, a comprehensive report to Congress within 24 months will explore alternative reserve management frameworks. The aim is to leverage Bitcoin's global position to hedge against risks and position the US as a financial innovation leader. If enacted, this move would represent a significant government endorsement of Bitcoin with far-reaching implications. Read more AI-generated news on: https://app.chaingpt.org/news

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