Alabama State Auditor Andrew Sorrell has publicly proposed the establishment of a Strategic Bitcoin Reserve (SBR). Sorrell’s call comes amid a growing wave of interest in SBRs among both federal and state-level policymakers, as well as a sharp rise in BTC’s price following the election of President-elect Donald Trump, who campaigned on pro-Bitcoin policies.

Speaking to 1819 News, Sorrell emphasized what he views as the inevitability of Bitcoin and crypto’s long-term success: “The debate over whether crypto will succeed has ended.” He further underscored the value of digital assets in broadening state portfolios: “As of now, crypto is a $3 trillion asset class that the state has zero exposure to. It is also the most rapidly growing asset class […] with the greatest potential for price appreciation.”

Is Alabama Next To Draft A Strategic Bitcoin Reserve Bill?

According to Sorrell, establishing a SBR would serve three primary goals: portfolio diversification, crypto-friendly positioning, and protection against currency-related risks. “What happens if the dollar ceases to be the reserve currency of the world?” Sorrell asked. “What happens if inflation runs 8% again? […] Bitcoin’s value is unaffected by what happens to the U.S. dollar […] It would strengthen our state’s balance sheet and could be used as collateral for future debt issuances.”

Sorrell’s initiative closely follows national and federal developments. President-elect Trump’s stated intention to create a “national Bitcoin stockpile” has become more tangible following a 50% surge in BTC’s price since Election Day. Trump has met with several top crypto executives and has pledged to keep and potentially add to the approximately 207,189 BTC seized by the US government over the years, a holding that now represents over 1% of global BTC supply.

In the US Senate, Wyoming’s Sen. Cynthia Lummis has introduced the BITCOIN Act (Boosting Innovation, Technology and Competitiveness through Optimiz

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Author: Jake Simmons