Saylor Says Bitcoin Reserves Are Bipartisan, Citing Backing From US Midterm Winners in Both Parties

Strategy Chairman Michael Saylor highlighted support for Bitcoin reserves from winners in both US parties in the midterm elections, arguing the policy has staying power. His comments come as concerns grow that Democratic control of Congress could set back crypto policy, even as the push to expand reserves is not confined to one party.

Bitcoin.com reported on November 5 that Saylor wrote on X a day earlier, "Florida elected a Republican governor who supported a US Bitcoin reserve, and Texas elected a Democratic senator who voted for a state-level Bitcoin reserve bill." He added that "the logic of holding Bitcoin transcends party lines."

The two politicians he cited were Republican Representative Byron Donalds, elected governor of Florida, and Democratic candidate James Talarico, elected to the US Senate from Texas. Talarico backed a Bitcoin reserve bill while serving in the Texas House of Representatives. In the election, he defeated Republican Ken Paxton.

The two officials supported different types of reserves at the federal and state levels. Donalds introduced the Reserve and Stockpile Act in March last year to codify the federal Strategic Bitcoin Reserve established by President Donald Trump through an executive order. The bill was aimed at creating a legal basis that would make it harder for a future administration to reverse the policy.

Texas Senate Bill 21, which Talarico supported, passed the state House by a 101-42 vote in May last year and took effect in June of the same year. The law established a strategic Bitcoin reserve as a special fund outside the state treasury, to be managed by the state comptroller. Eligible assets had to maintain an average market capitalization of at least $500 billion over the previous 24 months.