Dennis Porter, the visionary CEO and founder of the Satoshi Act Fund, a prominent US nonprofit championing the cause of Bitcoin adoption, has recently revealed intriguing developments. According to Porter, former President Donald Trump’s team is contemplating an executive order to create a national Strategic Bitcoin Reserve (SBR). This strategic move is intended to place the federal government in a leadership position ahead of states considering similar legislative measures.
Trump’s Team Eyes Executive Order to Establish Bitcoin Reserve
In a bold statement made on November 18 through the platform X, Porter disclosed, “I’ve heard that the Trump team is considering an Executive Order for a National ‘Strategic Bitcoin Reserve’ to outpace any state from enacting such legislation first. I can confirm that US Senate offices are backing this plan. The race is on, President Trump.”
Dennis Porter, who has been intricately involved in the legislative initiatives surrounding Bitcoin adoption, emphasized that his insights stem from confidential conversations with informed individuals and his active promotion of SBR initiatives both in the United States and on the international stage.
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Porter’s Insightful Predictions and Involvement
Porter substantiated his claims by referencing his prior forecast: “I was the first to announce that Donald Trump would create a ‘Strategic Bitcoin Reserve’ on July 18, 2024. How did I know this ahead of anyone else? The same sources confirm that Trump’s team is pushing for an Executive Order to establish a ‘Strategic Bitcoin Reserve.'” Remarkably, just ten days before Trump’s address at the Bitcoin 2024 conference—where he unveiled plans to form a national SBR utilizing Bitcoin seized by law enforcement—Porter had tweeted on July 18: “Trump to announce a USA Bitcoin strategic reserve in Nashville.”
Urgency in Implementing the SBR Initiative
On November 19, Porter underscored the critical need for Trump to expedite the SBR’s establishment, stating, “Trump won’t have much time to issue an executive order for a ‘Strategic Bitcoin Reserve’ before a state surpasses him and starts acquiring Bitcoin first. It is highly probable that an SBR bill will pass at the state level shortly after Trump assumes office.”
Porter’s Influence and Legislative Achievements
Porter’s credibility is firmly rooted in his close connections within political circles and his proven track record in promoting Bitcoin-friendly legislation. He has played a pivotal role in securing laws that safeguard Bitcoin mining and self-custody rights in several US states. Notably, Pennsylvania recently introduced an SBR Bill authorizing the State Treasurer to invest in Bitcoin—a move in which Porter was instrumental.
Open-Sourcing the SBR Model Policy
Additionally, on Sunday, Porter announced that the Satoshi Act Fund had made its ‘Strategic Bitcoin Reserve’ model policy publicly accessible. “Within hours of open-sourcing our ‘Strategic Bitcoin Reserve’ legislation, numerous lawmakers and a presidential candidate endorsed the policy and pledged to pass it into law,” he disclosed.
David Bailey’s Confirmation and International Developments
Adding credence to Porter’s assertions, David Bailey, CEO of BTC Inc and a key advisor to the Trump team, signaled impending federal action. On November 15, Bailey declared via X: “SBR is happening.” Later that day, he elaborated, “Expert consensus indicates that the President has the authority to establish the SBR without Congressional approval and implement a substantial acquisition program, potentially worth tens of billions of dollars. To expand further, Congressional support will be necessary, but we can start immediately at a scale akin to MicroStrategy.”
International Competition and National Security Concerns
As reported by Bitcoinist, there is growing speculation that other nation-states are swiftly moving to establish their own Bitcoin reserves, potentially outpacing the United States. Bailey underscored this urgency: “Let me be clear, the United States is being outpaced in its Bitcoin strategy and must swiftly establish the SBR. It is undeniably a national security issue.” On November 9, Bailey hinted at the scale of international accumulation: “There is at least one nation-state that has been actively acquiring Bitcoin and is now among the top 5 holders.”
At the time of reporting, Bitcoin was trading at $91,955.
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