According to CEO of Satoshi Action Fund, Dennis Porter, Utah is leading the race to establish a Bitcoin reserve in the US. Porter says the state's short legislative schedule encourages quick action.
Additionally, Utah has a digital assets task force operating outside the legislative schedule. This task force is actively coordinating the strategy for the Bitcoin reserve, and will act quickly when the regular schedule resumes.
When can Utah establish a Bitcoin reserve fund?
President Trump had promised to establish this reserve during his campaign, but his "Crypto Reserve" executive order has not met expectations. However, there is still a battle at the state and federal level to create a Bitcoin reserve, and Satoshi Action Fund CEO Dennis Porter is betting on Utah being the first.
"Utah is very likely to be the first state because they have a very short legislative schedule. Only 45 days. Either they succeed or fail in 45 days. No one has a faster schedule, and no one has stronger political will and determination to get this done,"
Porter stated in an interview with Senator Cynthia Lummis.
Wyoming Senator Cynthia Lummis is a key figure in the broader federal legislative effort. However, she agrees with Porter's assessment that Utah will be the first state to have its own Bitcoin reserve, not Wyoming.
Utah has some advantages in this race that could propel it past other initiatives. A Utah lawmaker proposed a Bitcoin reserve at the end of January, and it passed committee in just over a week. This was much faster than most other US states. However, Porter notes another key advantage. The state has maintained a digital assets task force since 2022.
In other words, the state may have a short legislative session, but Representatives can use this task force as a unit to strategize outside the session.

Utah has been a Crypto-friendly state for several years, and its economic policies and protections may have been more ready for a Bitcoin reserve than any other state. With a strong political will, they may be able to make this plan a reality.
These developments are very positive for the price of BTC. Even when other political developments disrupt the crypto market, legislative efforts like this help maintain momentum for BTC.
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