Promoting Bitcoin Reserve at the state level is gaining steam. Dennis Porter, CEO of Satoshi Action Fund, points out that these efforts could directly support the National Strategic Bitcoin Reserve Bill.
Speaking to Roundtable host Scott Melker, Porter revealed that US Sen. Cynthia Ramis is working on a federal bill and that the foundations built by individual states promote success.
“We are a huge supporter of Senator Ramis and her bill, creating a strategic Bitcoin reserve at the national level,” Porter said. “By leading this law to law at the state level, we will generate additional political support for her bill and earn a finish line.”
Bitcoin has seen strong support from Republican lawmakers, but Porter opposed the idea that this is a purely partisan issue. He argued that Democrats would ultimately recognize the value of Bitcoin, as did Republicans.
“Republicans see Bitcoin as a small government and see healthy money, while Democrats will find it to be the most comprehensive financial system in history,” he explained. “Age, gender, or political beliefs don’t matter. You can’t discriminate with Bitcoin.”
Porter noted that Bitcoin-related bills have already been introduced in democratically-led states such as Oregon and Massachusetts, signaling increased support. However, unlike Republicans, he acknowledged that Democrats lacked strong politicians to defend Bitcoin nationwide.
“The biggest problem is that we don’t see trustworthy Democratic leaders stepping up the way Senator Lumith has for Republicans,” he said. “We need to change that.”
Competition is intensifying to become the first US state to pass the Bitcoin Reserve Bill. Porter emphasized that once one condition is successful, the other states will soon follow and compare it to historic movements.
“Wyoming was the first person to give women the right to vote, and that caused the domino effect,” he said. “The same thing happens with Bitcoin Reserve. No one wants to be the first, but once one state does it, the other states rush to catch up.”
Wyoming has already played a major role in Bitcoin adoption and has a crypto-friendly policy in place, but may not be the first to pass the Bitcoin Reserve bill. Other states like Utah and North Carolina are making rapid progress and competition is intensifying.
For those who want to move forward with these bills, Porter encouraged them to reach out to lawmakers directly.
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