Following the election of Donald Trump as the 47th president of the United States, the establishment of a “bitcoin Strategic Reserve” has become a critical issue. The proposal, prominently championed during Trump's campaign, aims to position the United States at the forefront of global btc adoption and financial innovation.
During the bitcoin 2024 conference held in Nashville in July, President-elect Trump pledged to hold onto all btc currently owned or acquired by the US government. He articulated his vision in an interview with FOX Business, stating: “Who knows, maybe we'll pay our $35 trillion, hand you a little crypto check, hand you some bitcoin, and be done with our $35 trillion. (…) it is a different form of currency and it will end up benefiting the country (…) if we do not adopt it, other countries will adopt it.”
On November 6, Republican Senator Cynthia Lummis reaffirmed her commitment to establishing a strategic reserve through the bitcoin Act of 2024. Through x, she stated: “WE ARE GOING TO BUILD A STRATEGIC bitcoin RESERVE.” The legislation proposes directing the Treasury to acquire 1 million btc over five years and establish secure vaults managed by the Treasury.
US States to Propose bitcoin Reserve Bills in 2025
In parallel, lobbyist Dennis Porter, executive director and co-author of the Satoshi Act Fund, has x.com/Dennis_Porter_” target=”_blank” rel=”noopener nofollow”>indicated that the push to establish btc reserves is expanding beyond federal initiatives. On Thursday, Porter commented: “I've been talking to pro-bitcoin lawmakers around the world. You wouldn't believe the level of excitement the United States is generating with bitcoin. When the United States leads on bitcoin, it empowers policymakers around the world to advance bitcoin. Extremely optimistic about global bitcoin adoption.”
He further stated: “BREAKING: I can confirm that in 2025, several states will introduce bitcoin Strategic Reserve legislation. “This will be done in partnership with the Satoshi Law Fund, which develops model policies, including the bitcoin Strategic Reserve policy.”
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BREAKING: I can confirm that in 2025, several states will introduce bitcoin Strategic Reserve legislation.
—Dennis Porter (@Dennis_Porter_) twitter.com/Dennis_Porter_/status/1854622491601231875?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>November 7, 2024
Porter continued to amplify these developments on Friday, November 8, stating: “BREAKING: I can confirm that more state legislators contacted me today asking for help passing a 'bitcoin Strategic Reserve' after winning their elections. Tag your state legislator below if you want your state to join the bitcoin Strategic Reserve movement.” He added a little later: “UPDATE: KEEP TAGGING WE JUST HAD ANOTHER STATE LAWYER JOIN THE SBR MOVEMENT!”
Despite growing promotion, realizing a national btc reserve entails significant legislative and regulatory challenges. The viability of the initiative remains uncertain and current betting markets reflect skepticism. For example, Polymarket's odds on the question “Will Trump create a national bitcoin reserve?” by April 29, 2025, reach 33% for a “Yes” result.
However, Senator Lummis x.com/CynthiaMLummis/status/1854580516269547789″ target=”_blank” rel=”noopener nofollow”>remains a strong defender of the initiative. “A strategic reserve of bitcoin will allow the United States to address a significant portion of our debt and strengthen our position. See 'Currency Wars' for a good introduction to the 'stupid games, stupid prizes' cycle we find ourselves in. Let's break the cycle and refocus on a prosperous future for Americans,” Lummis said Thursday via x.
He contacted Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director under Trump, who commented: “It's time to focus on something the market doesn't fully understand: By the middle of next year, if Senator Lummis leaves gets its way, the United States will have a strategic reserve of bitcoin. It will force other central banks to do the same. “That would be monumental.”
At the time of publication, btc was trading at $75,952.
Featured image created with DALL.E, chart from TradingView.com
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