Dennis Porter, the CEO and founder of the Satoshi Act Fund—a nonprofit in the U.S. promoting Bitcoin adoption—has stated that Donald Trump’s team is exploring the idea of an executive order to create a national Strategic Bitcoin Reserve (SBR). This initiative seeks to place the federal government ahead of states looking to pass similar laws.
Trump Evaluates Executive Action for Bitcoin Reserve
On November 18, Porter revealed via X that, “I’ve heard that the Trump team is considering an Executive Order for a National ‘Strategic Bitcoin Reserve’ to preempt any state from passing legislation first.” He added, “US Senate offices are supporting this initiative. It’s on, President Trump. The competition has begun.”
Porter, who has been actively involved in legislative efforts advocating for Bitcoin, mentioned that his knowledge comes from “private discussions with insiders” and his direct work in pushing for SBR discussions throughout the U.S. and beyond.
Backing up his claims, Porter highlighted a previous prediction: “I was the first to announce that Donald Trump would create a ‘Strategic Bitcoin Reserve’ on July 18th, 2024. How did I know? It’s the same reason I’m aware that Trump’s team is pursuing this via executive order.”
Notably, ten days before Trump spoke at the Bitcoin 2024 conference—where he unveiled plans for a national SBR utilizing Bitcoin seized by law enforcement—Porter had tweeted on July 18, suggesting Trump would reveal a U.S. Bitcoin strategic reserve in Nashville.
On November 19, Porter reiterated the importance of Trump quickly implementing the SBR, stating, “Trump has limited time to issue an executive order before a state beats him to it and starts purchasing Bitcoin. It’s very likely a state-level SBR bill will pass shortly after Donald Trump assumes the presidency.”
Porter’s credibility follows his strong connections in political circles and his efforts in advancing Bitcoin-friendly legislation. He has been significant in securing laws that support Bitcoin mining rights and self-custody in multiple states. Recently, Pennsylvania introduced an SBR Bill allowing the State Treasurer to invest in Bitcoin, a move influenced by Porter.
Additionally, Porter announced that the Satoshi Act Fund had made its ‘Strategic Bitcoin Reserve’ model policy freely available. “After we ‘open-sourced’ our legislation, several lawmakers and a presidential candidate quickly endorsed it and committed to passing it,” he shared.
Further bolstering Porter’s claims, David Bailey, CEO of BTC Inc and a key member of the Trump team, hinted at imminent federal action. On November 15, Bailey stated via X: “The SBR is happening.”
That same day, he elaborated: “Experts agree the President has the authority to create the SBR without Congress and can initiate a significant acquisition program (in the tens of billions). To scale up further, we’ll need Congressional approval, but we can start at a MicroStrategy-like level immediately.”
As noted by Bitrabo, speculation is mounting that other countries are swiftly establishing their own Bitcoin reserves, potentially outracing the U.S. Bailey emphasized the urgency: “The United States is being outpaced on its Bitcoin strategy and needs to establish the SBR as soon as possible. This is fundamentally a national security matter.”
On November 9, Bailey indicated the scale of international Bitcoin acquisition, mentioning, “At least one nation-state has been actively buying Bitcoin, positioning itself among the top five holders. We should hear from them soon.” He reinforced the credibility of his claims with a meme indicating that his information is based on solid knowledge, not mere conjecture.
As of the latest update, Bitcoin is trading at $91,955.
