13 US States to Push for Bitcoin Reserves
The global debate surrounding Bitcoin’s role as a national reserve asset has intensified as it emerges as a serious challenger to traditional assets such as gold.
President-elect Donald Trump sparked discussion about Bitcoin reserves after endorsing them as “the core of financial independence” in the United States.
Countries see Bitcoin as a financial lifeline
Now, According to Dennis PorterCEO and Co-Founder Cong Action Fund (SAC) said that at least 13 of the 50 US states are working to create Bitcoin reserves.
“I can confirm that at least 13 states are enacting ‘Strategic Bitcoin Reserve’ legislation. January will be a record-breaking month for Bitcoin policy,” Porter tweeted on January 3.
November, Senator Cynthia Loomis Initially proposed to establish one Bitcoin Reserved in the United States. in a individual tweetsPorter added that 2025 will see a “tidal wave” of Bitcoin policy.
Another state senator emailed us in hopes of enacting “strategic Bitcoin reserve” legislation. A Bitcoin policy wave is coming, and SatoshiActFund is leading the way. “
The news isn’t entirely surprising, as several U.S. lawmakers have already come out in support of Bitcoin reserves.
Derek Merlin of Ohio State It said in December that as the U.S. dollar faced depreciation, Bitcoin provided a means to diversify the country’s investment portfolio and protect public funds. He introduced a bill to establish a Bitcoin reserve at the Ohio Treasury Department.
A Texas representative also introduced a BTC reserve bill in December. But the bill would not directly purchase Bitcoin, but instead would allow Texas will receive taxes, fees, donations in Bitcoin.
States in the United States have also introduced similar legislation pennsylvania and Florida. Pennsylvania’s Bitcoin bill proposes allocating up to 10% of the state’s $7 billion in treasury funds to Bitcoin.
In fact, asset management companies Van Eyck’s latest predictions If the United States adopts Bitcoin reserves, it can reduce its national debt by 36% by 2025.
Discussions of Bitcoin reserves are also gaining traction globally. Countries such as Japan, Switzerland and Russia are trying to build Bitcoin reserves. For example, a city like Vancouver has approved Plans to incorporate Bitcoin into their financial reserves.
Interestingly, governments are not the only ones Race to Own Bitcoin. MicroStrategy, Tesla, Marathon Digital and others are also stocking up on it.
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