Bitcoin Adoption By US State Imminent

Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF), announced that a US state is on the brink of initiating BTC purchases within the next four months.

A US state is set to begin purchasing Bitcoin (BTC) within the next four months, according to Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF).

Porter made the announcement during Michael Saylor’s $100K New Year’s Eve Bitcoin Party in Miami.

Bitcoin adoption by US state now imminent

During the event, Porter fielded a series of questions about the future of state-level Bitcoin acquisition. When asked about the prediction that a state would buy BTC this year — specifically Texas — Porter offered some qualified insight.

“That’s a great statement. It’s an accurate prediction, but I think it’ll be just slightly off. You might want to modulate it to be one of the first states to put Bitcoin on the balance sheet. Because the Texas bill actually doesn’t allow Texas to buy. It only allows for donations and taxes to be paid.”

Porter went on to explain SAF’s mission, which is to advocate for Bitcoin by educating lawmakers and regulators about its benefits. The organization not only pushes for Bitcoin adoption but also crafts model policies to be introduced into law.

So far, SAF has introduced 30 bills across 20 states, effectively covering about half of the United States. Porter noted that their efforts go beyond introducing legislation, as SAF works closely with lawmakers to help ensure these bills are passed successfully.

Speaking on the topic of protecting Bitcoin rights, Porter said, “Bitcoin rights, the right to self-custody, the right to mine, the right to run a node, the right to peer-to-peer transactions are protected now in four different states, Oklahoma, Louisiana, Arkansas and Montana. But we’re just getting started. There’s going to be a whole lot more states.”

Looking ahead to 2025, Porter expressed optimism about further legislative progress: “We have at least, I would say, 10 states, maybe up to 12 states that are going to introduce strategic Bitcoin reserve legislation.” When pressed about the likelihood of these bills being passed, Porter assured, “It can happen very fast. In fact, we already have a state that we think is a near 100 percent guarantee to pass our legislation into law.”

While Porter declined to reveal which state is involved, citing a need to “protect the policy process,” he expressed certainty about the impending acquisition. “It’s going to happen within the next four months. So what’s going to happen is there’s a state that has a task force. They meet in the offseason. And what they do is they say, OK, we like this bill or we don’t like this bill. Every bill they’ve passed out of that task force in the last several years, every bill that they said they like passes into law.”

According to Porter, this Strategic Bitcoin Reserve bill just passed out of that task force. “So we give it a near 100 percent chance that our bill will pass into law and that state will be able to start buying Bitcoin,” Porter concluded.

At press time, BTC is trading at $96,599.