Texas lawmakers are reportedly considering a groundbreaking initiative to establish a strategic Bitcoin reserve, as announced by the Satoshi Action Fund (SAF), a leading nonprofit in cryptocurrency advocacy. This development positions Texas, with its robust $2.4 trillion economy (ranking as the eighth-largest globally), as a potential trendsetter in Bitcoin adoption and security.
Bitcoin Reserve Conversations Begin
Dennis Porter, CEO of SAF, recently revealed on X (formerly Twitter) that he has been invited to present on “Strategic Bitcoin Reserves” at an event featuring lawmakers from across the United States and beyond. Preliminary discussions with a Texas legislator to introduce Bitcoin reserve legislation are already underway.
Texas Leading the Bitcoin Adoption Movement
If implemented, Texas’ Bitcoin reserve could significantly bolster not only local economic resilience but also the U.S. Bitcoin mining sector. Porter emphasized the strategic advantages of Bitcoin reserves, which extend beyond inflation protection to countering external threats.
“Bitcoin mining operates on razor-thin margins,” Porter noted. “A prolonged suppression of Bitcoin prices by external forces, such as Russia or China, could devastate American Bitcoin mining operations. A strategic Bitcoin reserve could serve as a stabilizing force, ensuring miners can navigate market volatility.”
Porter likened the initiative to pivotal moments in U.S. history, such as the Louisiana Purchase and the acquisitions of Florida and Alaska, which profoundly impacted the nation’s economy and security.
National and International Momentum
Texas is not alone in exploring Bitcoin reserves. In July, U.S. Senator Cynthia Lummis proposed a bill to establish a national Bitcoin reserve as a hedge against the growing national debt. Similarly, Pennsylvania lawmakers introduced legislation allowing up to 10% of the state treasury’s balance sheet to be allocated to Bitcoin.
On the global stage, Poland’s presidential candidate Sławomir Mentzen has pledged to create a national Bitcoin reserve if elected, underscoring the rising international interest in Bitcoin reserves.
Political Support Grows
Porter also highlighted that President-elect Donald Trump has expressed interest in forming a “strategic Bitcoin stockpile” as part of his campaign promises. “We are witnessing a race where no matter who wins, Bitcoin adoption advances, benefiting everyone,” he remarked.
MicroStrategy CEO to Advise Microsoft Board on Bitcoin
Adding to the momentum, Michael Saylor, Chairman of MicroStrategy, revealed plans to present a Bitcoin investment strategy to Microsoft’s board of directors. This comes ahead of a December 10 shareholder vote to assess the tech giant’s potential Bitcoin investments.
With these developments, Texas and other U.S. states appear poised to lead the way in adopting Bitcoin as a strategic financial asset.
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