Editor's PiCK
"14th US State Prepares to Adopt Bitcoin as 'Strategic Asset'"
JOON HYOUNG LEE
Summary
- Dennis Porter announced that the 14th US state is preparing to adopt Bitcoin as a strategic reserve.
- He stated that if the bill passes, the state government can stockpile Bitcoin as a strategic asset.
- President-elect Trump also pledged to stockpile Bitcoin, but Chairman Jerome Powell emphasized that the Fed does not have the authority to hold Bitcoin.
Dennis Porter, CEO of the American non-profit organization Satoshi Action Fund, announced on X on the 7th that "the 14th US state is preparing to introduce a 'strategic Bitcoin (BTC) reserve' bill."
If the bill passes, the state government can directly stockpile Bitcoin as a strategic asset. Porter stated, "Up to 20 Bitcoin reserve-related bills will be introduced at the state government level."
Donald Trump, the US President-elect, also pledged during his election campaign to stockpile Bitcoin as a strategic asset. However, Jerome Powell, the Chairman of the Federal Reserve, drew a line by stating, "The Fed does not have the authority to hold Bitcoin."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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