Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF), announced at Michael Saylor’s $100,000 New Year’s Eve Bitcoin Party in Miami that a US state is about to start purchasing BTC within months. The next four.
Bitcoin adoption by the US state is imminent
During the event, Porter Directed A series of questions regarding the future of Bitcoin acquisition at the country level. When asked to predict that the state will be buying Bitcoin by next year — specifically Texas — Porter offered accurate insights.
“It’s a great statement. It’s an accurate prediction, but I think it would be a little bit wrong. You might want to adjust it to be one of the first states to put bitcoin on its balance sheet,” Porter explained. “Because the Texas bill actually doesn’t allow Texas to buy. Only by paying donations and taxes.
Explaining the mission of the Satoshi Action Fund, Porter explained that SAF operates as a non-profit organization dedicated to defending Bitcoin by educating lawmakers and regulators about its benefits. The organization not only works to promote Bitcoin adoption, but also develops model policies to be enacted into law.
To date, SAF has introduced 30 bills in 20 states, effectively reaching nearly half of the United States. Porter stressed that their efforts extend beyond simply introducing legislation, as SAF is collaborating closely with legislators to ensure the successful passage of these bills.
Speaking about the protection of Bitcoin rights, Porter stated that “Bitcoin rights, the right to self-custody, the right to mine, the right to run a node, the right to peer-to-peer transactions, are now protected in four different states, Oklahoma, Louisiana, Arkansas, and Montana. But we “We’re just getting started. There will be more states.”
Looking to 2025, Porter expressed optimism about further legislative progress: “We have at least, I would say, 10 states, and probably as many as 12 states that will introduce strategic back-up legislation for Bitcoin.” When asked about the nature of the passage of the upcoming legislation, Porter stressed that “this could happen very quickly. In fact, we already have a country that we believe has a close to 100% guarantee that our legislation will be passed into law.”
While Porter declined to reveal the exact country involved, citing the need to “protect the political process,” he emphasized the certainty of the impending takeover. “That’s going to happen over the next four months. So what’s going to happen is there’s a state that has a task force. They meet in the offseason. And what they do is they say, well, we like this bill or we don’t like it. Every bill they’ve passed from this task force in the many years past the past, and every bill they said they liked became law.
Notably, Porter revealed that the Bitcoin Strategic Reserve Bill had just passed from that task force. “So we’re giving it almost a 100% chance that our bill will pass into law and that state will be able to start buying Bitcoin,” Porter concluded.
At press time, Bitcoin was trading at $96,599.
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