U.S. Senator Cynthia Lummis brought to a vote in Congress the "Bitcoin Act of 2024," which implies the creation of a strategic reserve of the first cryptocurrency in the country.

"[It is proposed] to create a strategic reserve of bitcoin and other programs to ensure transparent management of bitcoin assets of the federal government, to offset expenses through the use of certain resources of the Federal Reserve System (FRS) and for other purposes," the document states.

According to the initiative, the goal of creating the reserve is "to generate, store, and manage private keys associated with government bitcoin assets."

The bill implies the purchase of 1 million BTC (no more than 200,000 BTC per year over five years). For these purposes, the gold reserves of the FRS will be used.

The term for storing digital assets will be no less than 20 years, however, the document provides for exceptions. Responsibility for the safekeeping and monitoring of cryptocurrency will be assigned to the so-called "secretary." He is also required to create a proof of reserves system.