According to Cointelegraph, U.S. Senator Cynthia Lummis of Wyoming formally introduced the Bitcoin Strategic Reserve Act in the Senate, which will instruct the U.S. government to begin establishing a reserve fund for scarce decentralized assets. More specifically, the bill will establish a "decentralized secure Bitcoin vault" controlled by the U.S. Treasury Department, and the bill also instructs lawmakers and bureaucrats to establish strict cybersecurity parameters and other physical security measures to ensure that Bitcoin funds are not stolen. The bill also proposes a goal of gradually accumulating 1 million bitcoins, which is about 5% of the total supply of Bitcoin.