Dennis Porter, founder and CEO of Satoshi Action Fund (SAF), announced at Michael Saylor’s $100K New Year’s Eve Bitcoin Party in Miami that the US state is on the verge of starting BTC purchases within the next four months .
Adoption of Bitcoin by the US State Imminent
During the event, Porter addressed a series of questions about the future of Bitcoin adoption at the government level. When asked about predicting which country will buy BTC next year—especially Texas—Porter offered some subtle details.
“It’s a good statement. It’s an accurate prediction, but I think it’s going to be a bit off. You may want to change it to be one of the first states to put Bitcoin on the balance sheet. Because the Texas bill doesn’t actually allow Texas to buy. It only allows for the payment of donations and taxes,” explained Porter.
Elaborating on the work of the Satoshi Action Fund, Porter explained that SAF operates as a non-profit organization dedicated to advocating for Bitcoin by educating lawmakers and regulators about its benefits. The organization not only promotes the adoption of Bitcoin but also develops model policies to be enacted.
To date, SAF has launched 30 bills in all 20 states, covering nearly half of the United States. Porter stressed that their efforts go beyond the introduction of legislation, as SAF works closely with lawmakers to ensure the successful passage of these bills.
Speaking about the protection of Bitcoin rights, Porter said, “Bitcoin rights, the right to keep, the right to mine, the right to use the property, the right to peer-to-peer transactions are protected now in four different states, Oklahoma, Louisiana, Arkansas and Montana. But we’re just getting started. There’s going to be a lot of states.”
Looking ahead to 2025, Porter expressed hope for further legislative developments: “We have at least 10 states, maybe 12 states that will introduce strategic Bitcoin custody legislation.” When pressed about the nature of the upcoming legislation, Porter confirmed, “It could happen very quickly. In fact, we already have what we think is an almost 100 percent guarantee of passing our bill into law.”
While Porter refrained from disclosing the specific circumstances involved, citing the need to “protect the policy process,” he emphasized the certainty of future acquisitions. “It will happen in the next four months. So what will happen is there is a government with a working team. They met in the offseason. And what they do is say, OK, we like this bill or we don’t like this bill. Every bill they’ve passed in that caucus in the last few years, every bill they say they like is passed into law.”
Notably, Porter revealed that the Strategic Bitcoin Reserve bill just came out of that group. “So we’re giving an almost 100 percent chance that our bill will pass into law and that state will be able to start buying Bitcoin,” Porter concluded.
At press time, BTC traded at $96,599.
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