Dennis Porter, CEO and founder of the Satoshi Act Fund—a US nonprofit advocating for Bitcoin adoption—has claimed that former President Donald Trump’s team is considering an executive order to establish a national Strategic Bitcoin Reserve (SBR). This move aims to position the federal government ahead of individual states that are considering similar legislation.
“I’ve heard that the Trump team is considering an Executive Order for a National ‘Strategic Bitcoin Reserve’ in order to beat any state from passing it into law first,” Porter leaked on November 18 via X. “I can confirm that US Senate offices are backing this plan up. Game on President Trump. The race is on.”
Porter, who has been deeply involved in legislative efforts surrounding BTC adoption, added that his information comes from “private conversations with people familiar” with the matter and his direct involvement in promoting SBR language across the United States and internationally.
Supporting his claim, Porter pointed to his earlier prediction: “I was the first to announce that Donald Trump would create a ‘Strategic Bitcoin Reserve’ on July 18th 2024. How did I know this before anyone else? It’s the same reason I know that Trump’s team is pushing to create a ‘Strategic Bitcoin Reserve’ via Executive order.”
Indeed, ten days prior to Trump’s speech at the Bitcoin 2024 conference—where the former president announced plans to establish a national SBR using BTC confiscated by law enforcement—Porter had tweeted on July 18: “Trump to announce a USA Bitcoin strategic reserve in Nashville.”
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On November 19, Porter also emphasized the urgency of Trump making the SBR happen as quickly as possible, stating: “Trump will not have much time to issue an executive order to create a ‘Strategic Bitcoin Reserve’ before one of the states beats him to it and begins buying Bitcoin first. It’s likely we pass an SBR bill at the state level within days of Donald Trump taking the Oval Office.”
Porter’s credibility stems from his close ties to political circles and his track record in advancing BTC-friendly legislation. He has been instrumental in securing laws that protect BTC mining and self-custody rights in several US states. Notably, last week, Pennsylvania introduced a SBR Bill allowing the State Treasurer to invest in BTC—a move in which Porter played a key role.
Furthermore, on Sunday, Porter announced that the Satoshi Act Fund had open-sourced its ‘Strategic Bitcoin Reserve’ model policy. “Within hours of ‘open-sourcing’ our ‘Strategic Bitcoin Reserve’ legislation, multiple lawmakers and a presidential candidate endorsed the policy and vowed to pass it into law,” he revealed.
Adding weight to Porter’s assertions, David Bailey, CEO of BTC Inc and a key advisor to the Trump team, also signaled imminent federal action. On November 15, Bailey declared via X: “SBR is happening.”
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Later that day, he elaborated: “The verdict from the experts is the President has the authority to establish the SBR without Congress and implement a fairly large acquisition program (tens of billions of $). To go bigger we’ll need Congress, but we can start right away at a MicroStrategy-esque scale.”
As Bitcoinist reported, there are growing rumors that other nation-states are acting swiftly to establish their own BTC reserves, potentially outpacing the United States. Bailey underscored this concern: “Let me be clear, the United States is being front-run on its Bitcoin strategy and must stand up the SBR as quickly as possible. It’s literally a national security issue.”
On November 9, Bailey hinted at the scale of international accumulation: “There is at least one nation state that has been actively acquiring Bitcoin and is now a top 5 holder. Hopefully we hear from them soon.” He reinforced his assertion with a meme emphasizing that his information is based on concrete knowledge rather than speculation.
At press time, BTC traded at $91,955.
Featured image created with DALL.E, chart from TradingView.com