Emily Walker
In recent statements, Dennis Porter, the CEO and founder of the Satoshi Act Fund, an advocacy organization, has heightened anticipation for a major Bitcoin-related announcement. Utilizing the platform X, Porter revealed that this significant event is set to occur on December 12 and may represent a pivotal moment for Bitcoin’s acceptance in the United States.
Potential Game-Changer for Bitcoin?
On December 10, Porter shared: “It’s happening. The essential Bitcoin announcement is set to go live in under 48 hours. This Strategic Bitcoin Reserve (SBR) announcement will quickly advance global Bitcoin adoption. It’s a historical moment. Bitcoin is succeeding.”
A live session on X Space is planned for December 12 at 11:00 AM EST (5:00 PM GMT+1), where more information is expected. Community feedback has varied, with some individuals voicing doubt about the effectiveness of “announcement of announcement” strategies.
One user remarked: “Respectfully, your previous announcements have been underwhelming. Should we expect another letdown?” Another commented: “Please, if this is another Spaces just to announce a county’s interest in a Bitcoin reserve, we’ll block you.”
Regardless of some negative reactions, Porter and the Satoshi Act Fund continue to promote their message. Their advocacy is focused on encouraging state-level initiatives across the US to set up an SBR.
Recently, Porter mentioned that up to 10 states are likely to propose SBR legislation. Earlier, he hinted at involvement from “one of the largest economies worldwide,” and highlighted the necessity of coverage from mainstream media. He claims that major news outlets have already pledged to report on the announcement.
On December 5, he stated: “Next week, there will be an announcement that will transform the discussion around Bitcoin. No one anticipates what’s coming. One of the largest economies is about to leverage Bitcoin. Two major media channels have agreed to report on this. It’s monumental.” On December 7, he added: “I can confirm we’ve engaged 7 journalists, including those from significant outlets. We are set for a major success.”
While the details remain largely undisclosed, everything suggests a state-level initiative in the US. The ongoing fundraising efforts by the Satoshi Act Fund underscore this aim, as they are pursuing $500,000 in donations to facilitate SBR legislation across various states. According to their official fundraising page:
“We have lawmakers from 10 states prepared to introduce ‘Strategic Bitcoin Reserve’ legislation at the state level. We have already assisted in introducing this bill in Pennsylvania, and by 2025, even more legislators will join the cause. We anticipate that governments in the USA will start buying Bitcoin within the next 6 months!”
On December 9, Porter updated that tangible progress had been made: “We have successfully raised $150,000 to support the passage of Strategic Bitcoin Reserve legislation. We are ahead of schedule. Join the movement and help us surpass our $500,000 target through donations.”
As of the latest update, Bitcoin is trading at $98,746.