Dennis Porter, CEO and founder of the Satoshi Act Fund – a US non-profit organization advocating for Bitcoin adoption – has claimed that former President Donald Trump’s team is considering issuing an executive order to create a national Strategic Bitcoin Reserve (SBR). This move aims to put the federal government in front of individual states that are considering similar legislation.
Trump is considering a Bitcoin reserve executive order
“I heard the Trump team is considering issuing an executive order to create a national ‘Strategic Bitcoin Reserve’ in order to beat out whichever state passes it into law first,” Porter said. It leaked on November 18 via X. “I can confirm that the US Senate offices support this plan. Game on President Trump. “The race is on.”
Porter, who has been deeply involved in the legislative efforts surrounding Bitcoin adoption, added that his information comes from “private conversations with people familiar with” the matter and his direct involvement in promoting the SBR language across the United States and internationally.
In support of his claim, Porter pointed to his previous prediction: “I was the first to announce that Donald Trump would create a ‘Strategic Bitcoin Reserve’ on July 18, 2024. How did I know that before anyone else? This is the same reason I know that the Trump team is seeking to create a ‘Bitcoin Strategic Reserve’. “Bitcoin Strategy” through executive order.
In fact, ten days before Trump’s speech at the Bitcoin 2024 conference — where the former president announced plans to create a national SBR using Bitcoin seized by law enforcement — Porter tweeted on July 18: “Trump will announce a USA Strategic Reserve for Bitcoin in Nashville.” “.
On November 19, Porter also Confirm Trump’s urgency to make the SBR happen as quickly as possible, saying: “Trump won’t have much time to issue an executive order to create a ‘Strategic Bitcoin Reserve’ before a state gets ahead of him and starts buying Bitcoin first. We’ll likely approve an SBR bill at the state level.” The state is within days of Donald Trump assuming the Oval Office.
Porter’s credibility stems from his close ties to political circles and his track record of advancing Bitcoin-friendly legislation. He has been instrumental in securing laws protecting BTC mining rights and self-custody rights in several US states. Notably, last week, Pennsylvania introduced an SBR bill that would allow the state treasurer to invest in Bitcoin — a move in which Porter played a key role.
Furthermore, Porter announced on Sunday that the Satoshi Law Fund has open sourced its “Bitcoin Strategic Reserve” model policy. “Within hours of ‘open sourcing’ our ‘Bitcoin Strategic Reserve’ legislation, several lawmakers and a presidential candidate endorsed the policy and pledged to pass it into law,” he revealed.
Adding to Porter’s assertions, David Bailey, CEO of BTC Inc and a key advisor to the Trump team, also pointed to impending federal action. On November 15, Billy announced via X: “SBR is happening.”
Later that day, he Detailed: “The expert judgment is that the President has the authority to create the SBR without Congress and implement a fairly large (tens of billions of dollars) acquisition program.” To scale, we’ll need Congress, but we can start right away at MicroStrategy scale.
As Bitcoinist reports, there are growing rumors that other nation-states are acting quickly to create their own BTC reserves, potentially outpacing the United States. Bailey emphasized this concern, saying: “Let me be clear, the United States is moving forward with its Bitcoin strategy and must stand up to SBR as quickly as possible. It is literally a national security issue.”
On November 9, Bailey alluded to the size of the international accumulation: “There is at least one nation state that has been actively acquiring Bitcoin and is now among the top 5 holders. We hope to hear from them soon.” He backed up his assertion with a meme emphasizing that his information was based on concrete knowledge and not speculation.
At press time, Bitcoin was trading at $91,955.
Featured image created with DALL.E, a chart from TradingView.com