Porter argues that Bitcoin’s current situation is unique and different from any previous stage.
The businessman celebrated the legislative advances favorable to BTC and the high institutional adoption.
For Dennis Porter, CEO of Satoshi Action Fund, Bitcoin (BTC) is not only an asset to invest, but the only network in the world in which anyone can directly influence their course by just executing and use a node.
«It is from the bottom up, not from top to bottom. No network in the world empowers people as Bitcoin », affirmed Recently in their social networks, highlighting that, unlike any other financial or technological system, Under the creation of Satoshi Nakamoto there is no central authority that imposes the rules: It is the community that defines its evolution.
This empowerment comes from its decentralized design: under the Bitcoin parameters, any person can validate transactions, protect the network and verify compliance with the rules without asking permission from a bank, a government or a company.
This guarantees that the control of the system is distributed among thousands of independent participants, which makes it resistant to censorship and arbitrary changes in their norms. In a global scenario where access to financial services usually depends on intermediaries, BTC offers an open and borderless alternativeuseful both for sending remittances and to provide access to the digital economy to arranged people.
Besides, The financial freedom offered by Bitcoin transcends the mere possession of an asset. Who protects their own private keys has practically the total control over their money and can transfer it to any place in the world in a matter of minutes, without being limited by bank schedules.
Actually, Bitcoin’s properties make it an especially useful value reserve in countries with high inflation, capital controls or unstable financial systems.
Porter too affirms that the current moment of BTC does not resemble any other. Among the factors that stand out are the entry of large financial institutions, ETF with record adoption figures, favorable regulations in several countries, companies that compete for accumulating BTC, nations that incorporate it as treasury and, in the case of the United States, the creation of a strategic reserve.
Business adoption and regulatory advances
Starting with corporate interest, the truth is that this did not arise from nothing. As Cryptonotics reported, a key moment was in August 2020, when Microstrategy – today known as Strategy – announced the acquisition of 21,454 BTC for 250 million dollars.
Thus, what in principle was presented as a measure to protect itself from inflation and economic uncertainty, ended up becoming a milestone: for the first time, a company that quotes in the stock market incorporated Bitcoin as its main reserve asset. At the time of writing this article, Strategy has a reserve of 628,946 BTCaccording to data of Bitcoin Treasuries.
Five years later, more than 100 public companies worldwide have followed that example, from technology in Silicon Valley to energy, mining and entertainment firms in Japan, Canada, Australia and Europe. These include companies such as Tesla, Block (formerly Square), Metaplenet and Mara Holdings.
To the corporate demand is added the accumulation of bitcoin by sovereign nations. Bután, a small country of the Himalayas with just 800,000 inhabitants, heads the world possession ranking of Bitcoin Per capita, with more than 11,900 BTC in its state reserves … a case that exemplifies that not only the great powers can excel.
In the United States, the adoption at the state level advanced with the signing of an executive order of President Donald Trump to create a strategic reserve, a fund that will be composed of Bitcoin confiscated by the Government and without generating costs for taxpayers. According to estimates Not official, the country has around 198,022 BTC.
At the regional level, several US states are promoting laws to incorporate Bitcoin into their financial structures. New Hampshire was a pioneer by authorizing a cryptocurrency treasury, which allows to invest up to 5% of certain public funds in digital assets with a capitalization of more than 500 billion, a criterion that currently only complies with Bitcoin.
Shortly after, and despite having previously vetoed a project that authorized periodic purchases of Bitcoin by the State, Arizona approved Law HB 2749, giving green light to a reservation destined to manage unrestranted digital assets and other funds.
All these movements occur with Bitcoin approaching $ 120,000 per currency after marking a new record above $ 122,000 this week. However, for Porter, What really distinguishes BTC is its combination of technological independence, global scope and high institutional adoptionfactors that have already defined a historical moment for the asset.
