A U.S. state is likely to start buying Bitcoin within the next four months, according to Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF) ¹. This development comes as the concept of a strategic Bitcoin reserve gains traction, with several U.S. states proposing legislation to create their own Bitcoin reserves.
*States Leading the Charge*
- Texas has proposed a bill that would allow the state to build up a Bitcoin reserve by encouraging Bitcoin miners to pay their taxes in Bitcoin.
- Florida and Pennsylvania are also exploring the idea of creating a Bitcoin reserve.
The strategic Bitcoin reserve is modeled after the Strategic Petroleum Reserve, created in 1975 to stabilize the U.S. economy during energy crises. Proponents argue that a Bitcoin reserve would help stabilize the U.S. economy, strengthen the U.S. dollar, and establish the U.S. as a leader in the digital economy ².
While the federal government has not yet made a move to create a strategic Bitcoin reserve, Galaxy Research predicts that the U.S. government will not buy Bitcoin in 2025. Instead, they expect the government to explore an expanded Bitcoin reserve policy ³.
