Dennis Porter, co-founder and president of Satoshi Action Fund, a 501(c)(4) nonprofit organization, has revealed a significant development in US state-level bitcoin initiatives on December 7, via x , he <a target="_blank" href="https://x.com/Dennis_Porter_/status/1876430237174825418″ target=”_blank” rel=”noopener nofollow”>declared“A 14th state now set to introduce 'Strategic bitcoin Reserve' legislation.”
Previously, Porter had revealed that he was working with 13 different states on proposals to establish a Strategic bitcoin Reserve (SBR). Notably, Porter was instrumental in helping several states pass pro-bitcoin laws in the past, and his ongoing lobbying efforts are focused on establishing SBRs in several US states.
When will US states establish a bitcoin reserve?
Goalie <a target="_blank" href="https://x.com/Dennis_Porter_/status/1876453196652302418″ target=”_blank” rel=”noopener nofollow”>explained that many people have asked him, “when will the process for 'Strategic bitcoin Reserve' legislation begin at the state level,” leading him to outline a detailed roadmap that he hopes most states will follow? According to him, a bill can originate in a state's House or Senate; Once it is officially filed, it must pass an initial hearing before a relatively small group of lawmakers who determine whether it should move forward.
A simple majority is generally needed at that hearing for the bill to advance to a vote in the same legislative chamber. If it gets a simple majority on that vote, it moves to the second chamber, where lawmakers again hold a hearing followed by a vote of the entire chamber.
If the bill passes the second chamber, it is sent to the Governor's desk for his signature or veto. Porter emphasized that “if the Governor signs the bill, then the legislation is law” and added: “It is full of potential landmines that could kill a bill at any time,” emphasizing the fragility of the process and the importance of continuous promotion. efforts.
Porter shared that the deadlines for legislative action in most states will begin this month and explained that “in most states this process begins this month. Additionally, in most states, the legislative cycle ends quickly. Most states are part-time legislatures. “So a lot of this activity will happen very quickly over the next six months.”
In part-time legislatures, state legislators meet for relatively short sessions, often only a few months in length. This compressed timeline means that any proposal on the table faces a concentrated period of discussion, negotiation and voting, offering limited windows for success or failure.
Porter called these deadlines a “compelling mechanism” and said, “The benefit of working at the state level is that there are fast and strict deadlines. A bill sinks or swims very quickly.” He said that by summer, many states will either have adopted a strategic bitcoin reserve or not, given the short and decisive nature of the legislative cycle in those particular jurisdictions.
However, Porter also noted that not all states operate under the same time constraints. Some, like Ohio and Pennsylvania, have year-round legislatures, meaning there is more time to push through legislative action or modify proposals. While more flexible, these long cycles can delay the final result.
Porter noted that the multistate effort intentionally takes these variations into account by working simultaneously on identical or nearly identical bills, with each state legislature proceeding at its own pace. This approach, he suggested, “dramatically increases the odds that we will get critical legislation like the bitcoin Strategic Reserve over the finish line,” as the success of one bill can build momentum or offer lessons for others.
At the time of publication, btc was trading at $101,618.
Featured image from YouTube, chart from TradingView.com