PANews reported on February 3 that according to Cointelegraph, due to a short legislative window and "political momentum", Utah may become the first state in the United States to establish a Bitcoin reserve.

Dennis Porter, CEO of Satoshi Action Fund, said in a recent interview that Utah has a "great chance" of becoming the first state in the United States to establish a Bitcoin reserve because they only have 45 days to make a decision. No other state has a shorter legislative time, and no other state has more political momentum and determination to get it done. In the past few years, every bill passed by the Utah Economic Development Commission has eventually become law.