Fulfilling a promise she made at the Bitcoin 2024 conference, US lawmaker Cynthia Lummis has drafted a bill that would allow states to store Bitcoin in their reserves. According to the draft, dubbed “Bitcoin Act 2024”, states would be able to voluntarily hold Bitcoin assets in their reserves. Current laws do not recognize this possibility and only allow assets such as gold and silver to be held in reserves.
If the bill is passed, 200,000 Bitcoins will be purchased annually for the next five years, creating a total of 1 million Bitcoin reserves. Lummis stated that the US will protect its economic interests with this program and become a leader in the cryptocurrency industry.
