U.S. senator to put forward bill to enable Bitcoin as Fed asset

According to Bloomberg, Cynthia Lummis, a pro-cryptocurrency Wyoming senator, is planning to put forward a bill that would lead to the Federal Reserve selling some of its gold to purchase one million Bitcoin as a strategic reserve asset. The bill would enable the U.S. government to acquire one million Bitcoin, which is about 5% of the total supply of Bitcoin. Lummis plans to put the bill forward once the new congress is formed next year. In July, she attended the Bitcoin 2024 conference and announced that she would put forward this type of legislation.