Bitcoin

Reserve

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Strategic Bitcoin Reserve legislation is coming faster than anticipated.</li> 
 <li>BTC’s price recovered above $93,000, following yesterday’s dip at $90,000 levels.</li> 
</ul> 
<p>Today, Bitcoin’s price recovered following a drop at $90,000 levels on November 26, fueled by continued optimism in the crypto industry amidst other factors.</p> 
<p>At the moment of writing this article, BTC is trading above $93,000. Yesterday, the coin’s price topped $94,600, ahead of a price dip to $90,700 levels.</p> 
<figure id="attachment_53968" aria-describedby="caption-attachment-53968" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-27T093137.519.jpeg"><img loading="lazy" decoding="async" class="wp-image-53968 size-large" src="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-27T093137.519-1024x683.jpeg" alt="BTC price in USD today" width="1024" height="683" title="3 New US States Plan Strategic Bitcoin Reserve Legislative Announcements in December 24" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-27T093137.519-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-27T093137.519-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-27T093137.519-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-27T093137.519-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-27T093137.519-1140x760.jpeg 1140w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-27T093137.519.jpeg 1200w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption id="caption-attachment-53968" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>In the past weeks, Bitcoin saw a <a href="https://crypto.ro/en/news/bitcoin-price-drops-to-92k-ahead-of-thanksgiving-day-in-the-us/">sell-off activity</a> coming from LTHs, triggering increased market volatility.</p> 
<p>However, the continued optimism in the crypto industry coming from the upcoming creation of BTC Reserves in the US and abroad is expected to push BTC’s price to $100,000 this year.</p> 
<h2 id="3-new-states-to-announce-a-strategic-bitcoin-reserve-in-december">3 New States to Announce a Strategic Bitcoin Reserve in December</h2> 
<p>Satoshi Act Fund’s CEO and founder, Dennis Porter, shared <a href="https://x.com/Dennis_Porter_/status/1861534707328131577" rel="nofollow" target="_blank">a message</a> on his X account, announcing that he confirms three new states will make Strategic BTC Reserve legislation announcements next month.</p> 
<p>He highlighted that there will be more similar legislation coming faster than he had previously anticipated, and we can expect December to be a huge month for the industry.</p> 
<p>So far, Pennsylvania has <a href="https://crypto.ro/en/news/pennsylvania-house-of-representatives-proposes-bill-to-hold-bitcoin-as-a-state-reserve-asset/">introduced a bill</a> for establishing a Strategic Bitcoin Reserve, setting a precedent for more states to follow.</p> 
<p>This is one of the most important changes that should take place in the US crypto industry, and other important names including Senator Cynthia Lummis are strongly supporting the idea.</p> 
<p>Porter earlier<a href="https://x.com/Dennis_Porter_/status/1861549528513683698" rel="nofollow" target="_blank"> explained</a> that in less than three months, a US state could be holding BTC in a cold storage multi-sig wallet, and they will probably be running their own node as well.</p> 
<p>It’s also worth noting that one of the most important Bitcoin miners in the world, MARA Holdings<a href="https://x.com/MARAHoldings/status/1861426492418187564" rel="nofollow" target="_blank"> wrote</a> a full thesis on the importance of a Strategic BTC Reserve.</p> 
<h2 id="mara-holdings-strategic-recommendations-for-us-action">MARA Holdings Strategic Recommendations for US Action</h2> 
<p>In their notes, MARA highlighted the need to implement the following strategic measures to address the challenges and seize the opportunities that BTC presents:</p> 
<ol> 
 <li>Create a Strategic BTC Reserve in the US, similar to how the country is a leading holder of gold.</li> 
 <li>Invest in domestic BTC mining to control a larger portion of the global hashrate and protect its economic sovereignty.</li> 
 <li>Develop mining technology and promote self-sufficiency, encouraging the production of mining hardware to reduce dependence on foreign suppliers.</li> 
 <li>Implement supportive policies and regulations that offer legal clarity for BTC miners and investors and offer incentives to stimulate industry growth.</li> 
 <li>Lead in global BTC standards by collaborating with allies and ensuring that BTC remains a neutral, open, and secure platform.</li> 
 <li>Protect national security via hashrate control to safeguard the US from foreign interference.</li> 
</ol> 
<figure id="attachment_53969" aria-describedby="caption-attachment-53969" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/mara.png"><img loading="lazy" decoding="async" class="wp-image-53969 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/mara.png" alt="MARA via X" width="776" height="587" title="3 New US States Plan Strategic Bitcoin Reserve Legislative Announcements in December 25" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/mara.png 776w, https://crypto.ro/en/wp-content/uploads/2024/11/mara-300x227.png 300w, https://crypto.ro/en/wp-content/uploads/2024/11/mara-768x581.png 768w, https://crypto.ro/en/wp-content/uploads/2024/11/mara-750x567.png 750w" sizes="(max-width: 776px) 100vw, 776px"></a>
 <figcaption id="caption-attachment-53969" class="wp-caption-text">
  MARA via X
 </figcaption>
</figure> 
<p>The US is not the only country that’s working on creating a Strategic Bitcoin Reserve, as recently Poland<a href="https://crypto.ro/en/news/polish-presidential-candidate-vows-to-create-a-strategic-bitcoin-reserve/"> proposed</a> the same thing, and yesterday’s reports revealed that Brazil has similar plans to hedge economic risks.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GdU-JUiXcAAAZuD?format=jpg&amp;name=medium" alt="Brazil bill introduced to the Chamber of Deputies" width="869" height="1200" title="3 New US States Plan Strategic Bitcoin Reserve Legislative Announcements in December 26">
 <figcaption class="wp-caption-text">
  Brazil’s bill introduced to the Chamber of Deputies
 </figcaption>
</figure> 
<p>There are various reasons to remain optimistic regarding the fate of Bitcoin and the entire crypto industry, as more moves are being made towards global adoption and crypto-friendly regulation.</p>

3 New US States Plan Strategic Bitcoin Reserve Legislative Announcements in December

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