Bitcoin Strategic Reserves are not only for the US federal government, but also for the US government.
Since several states introduce laws, the movement for the establishment of strategic bitcoin reserves in the United States will gain dynamics and build on a campaign promise that has previously achieved President Donald Trump in 2024.
US federal and state efforts grow and contribute to the Bitcoin hype
Dennis Porter, CEO and founder of the Satoshi Action Fund stated that 16 US states are preparing to introduce laws to create strategic Bitcoin reserves.
Porter and its organization were significantly involved in the development of the “Bitcoin Rights” bill, which was first introduced in Pennsylvania in November 2024.
On January 24th, the representative of the state of Ohio, Steve Demetriou, proposed a legislative template together with six others, which enables the state treasury to assign up to 10% of state funds for the purchase of digital assets, including Bitcoin, for a crypto reserve .
Demetriou emphasized that such a reserve would protect state funds from inflation and economic uncertainties. It is a point of view that is shared by President Donald Trump, who publicly supported the creation of a national strategic Bitcoin reserve and compared it with the strategic oil reserve.
Bitcoin investors and enthusiasts consider Bitcoin reserves as a positive step, serve as inflation protection and at the same time fuel the BTC shortage of $ and the price of the token higher.
However, some experts warn of the volatility of Bitcoin and the potential risks associated with its introduction as a reserve assets.
In the Ohio bill, there is an important restriction that realizes that only digital assets with an average market capitalization of at least $ 750 billion would be qualified for the reserve in the past 12 months, a step to reduce potential volatility.
Currently only $ BTC meets these requirements.
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Despite downturn, the cryptom market is ready for Bullische February
The market largely declined in the recent trade. But with the news about several Bitcoin reserves in development and meme coins to start the pre -sale, the latest DIP could be the last correction before an expected February.
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