Satoshi Action Fund Says Multiple Bitcoin Reserve Bills Will Soon Be Introduced at the State Level

Dennis Porter, CEO and co-founder of the Satoshi Action Fund, has revealed that up to 20 Strategic Bitcoin Reserve (SBR) bills are set to be introduced at the state level in the United States.

The Satoshi Action Fund, a non-profit organization that aims to position Bitcoin as a key tool for financial innovation and stability, detailed on its donation webpage that “13 states are prepared to introduce and pass Strategic Bitcoin Reserve legislation.”

The organization is aiming to double the number of U.S. states with pro-Bitcoin legislation by 2025 – it has already helped pass four pro-Bitcoin bills into law, as well as contributing to the introduction of such legislation in 20 states. This initiative underscores the growing momentum for Bitcoin adoption at the institutional level, reflecting a broader effort to incorporate cryptocurrency into legacy financial systems.

The Process

Porter explained in a thread on X that, for most states, the bill introduction process will begin this month. Bills introduced to the Senate or House will be subject to a hearing where 7-21 lawmakers vote.

If the majority (51% or more) votes in favor, the bill proceeds to a "floor vote" in the chamber, where all members vote on whether to pass it. If passed, the bill moves to the second chamber (House or Senate) based on its initial introduction.

“The benefit of working at the state level is there are fast and hard deadlines,” Porter wrote. “A bill either sinks or swims very quickly. It’s a forcing mechanism for action.” He added that the reason this might take longer in some states is because they have year-round legislatures, such as Ohio and Pennsylvania.

“Most of the states we’re working in will either have a strategic Bitcoin reserve by summer or they won’t,” he added.

Benefits of SBRs

By expanding Bitcoin’s role, states and governments can potentially benefit from the financial innovation and stability it offers, experts say.

Alan Orwick, co-founder and CEO of Quai Network, explained to The Defiant that as global economic instability and inflationary pressures rise, adopting Bitcoin in reserves could be the solution. Bitcoin’s fixed supply of 21 million coins offers a built-in hedge against inflation, making it a crucial safeguard as fiat currencies face continued devaluation.

“Unlike traditional reserve assets, Bitcoin’s digital nature enables unparalleled portability, divisibility, and resistance to censorship, making it a modern and adaptable tool for economic resilience,” Orwick said.

“For countries like the US, integrating Bitcoin as a strategic reserve asset could help reduce dependence on the dollar as the sole currency, offering diversification and enhancing financial sovereignty,” he added.

The Satoshi Action Fund, founded in 2022, made history by being the first organization to successfully pass "Right to Mine" and "Right to Self-Custody" laws in four states.