After the election of Donald Trump as the 47th President of the United States, the establishment of a “Strategic Bitcoin Reserve” has emerged as an important topic. The proposal, which was heavily promoted during the Trump campaign, aims to put the United States at the forefront of global BTC adoption and financial innovation.
During the Bitcoin 2024 conference in Nashville in July, Trump-elect promised to keep all BTC owned or acquired by the US government for now. He expressed his opinion in an interview with FOX Business, saying, “Who knows, maybe we’ll pay our $35 trillion, give him a little crypto check, then we’ll give him a little Bitcoin and clear the $35 billion.” […] it is a different form of money and will ultimately benefit the country […] if we don’t accept it, other countries will accept us.”
On November 6th, Republican Senator Cynthia Lummis reaffirmed her commitment to establishing a strategic depository through the BITCOIN Act of 2024. With X, he said, “WE ARE GOING TO BUILD A BITCOIN STRATEGY STORAGE SPACE.” The law proposes to direct the Ministry of Finance to acquire 1 million BTC within five years and establish vaults managed by the Ministry of Finance.
The US States will propose a Bitcoin Reserve Bill in 2025
Similarly, tourism promoter Dennis Porter, CEO and participant of the Satoshi Act Fund, indicated that the impetus for the establishment of BTC reserves is growing beyond the government’s plans. On Thursday, Porter noted, “I’ve been talking to pro-Bitcoin lawmakers around the world. You wouldn’t believe the level of excitement the USA is getting into Bitcoin. When the USA takes the lead with Bitcoin it empowers lawmakers around the world to push Bitcoin forward. Very Bullish on Bitcoin discovery globally. “
He also asserted, “WARNING: I can confirm that by 2025, many states will introduce Strategic Bitcoin Reserve legislation. This will be in collaboration with the Satoshi Act Fund which is the principles of the manual model including the Strategic Bitcoin Reserve policy.
BREAKING: I can confirm that by 2025, many states will introduce Strategic Bitcoin Reserve legislation.
— Dennis Porter (@Dennis_Porter_) November 7, 2024
Porter continued to expand on these developments on Friday, November 8, saying, “NOTE: I can confirm that more state legislators have reached out to me today to ask for help in passing the ‘Strategic Bitcoin Reserve’ after winning their election. Tag your state representative below if you want your state to join the Strategic Bitcoin Reserve organization. He later added: “CONFIRMATION: KEEP GOING WEAK WE JUST HAD ANOTHER NATIONAL LEGISLATION JOIN THE SBR MOVEMENT!”
Despite growing incentives, the realization of a national BTC repository involves significant legal and regulatory challenges. The realization of this plan remains uncertain, the current betting markets are showing doubts. For example, Polymarket disagrees on the question “Will Trump create a national Bitcoin repository?” on April 29, 2025, you stand at 33% for a “Yes” result.
However, Senator Lummis remains a staunch supporter of the plan. “The Strategic Bitcoin Reserve will allow the US to cover a reasonable portion of our debt + strengthen our hand. See ‘Money Wars’ for a great start to the ‘stupid games, stupid prizes’ cycle we’re on. Let’s break the cycle and refocus on a prosperous future for the American people,” Lummis said Thursday on X.
He joined Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director under Trump, who commented, “Time to focus on something that is completely incomprehensible to the market: By the middle of next year when Sen. The US will have a strategic Bitcoin Reserve. It will force other big banks to do the same. That would be a reminder.”
At press time, BTC traded at $75,952.
The featured image was created with DALL.E, a chart from TradingView.com