In the US, the introduction of Strategic Bitcoin Reserve legislation at the state level is being discussed following President Trump's proposal.
US States' Initiative on Bitcoin Reserve
According to Dennis Porter, founder of the Satoshi Action Fund, 16 US states may introduce Strategic Bitcoin Reserve legislation. This comes in response to Donald Trump's proposal for a national Bitcoin reserve.
Support and Future Expectations
Following Porter's statement, Bitcoin enthusiasts supported this initiative. Jimmy Kostro, CEO of the Kostro Foundation in Thailand, expressed hope that half of the US states would accept Bitcoin reserves. The MDX ALGO trading system called the Bitcoin reserve momentum 'undeniable.'
Ohio's Example
Ohio has set an example by introducing a bill that allows the state to allocate 10% of its funds to digital assets, including Bitcoin. State Representative Steve Demetriou stated this would protect state funds from inflation. The bill requires assets to have an average market capitalization of $750 billion over the past 12 months.
Legislative initiatives for strategic Bitcoin reserves demonstrate a growing interest among US states in cryptocurrencies, potentially impacting the country's financial landscape significantly.
