The bill drafted by U.S. Senator Cynthia Lummis allows states to voluntarily store Bitcoin in reserves. The draft bill is called the "National Optimization of Investment to Promote Innovation, Technology, and Competitiveness Act of 2024," or simply the "Bitcoin Act of 2024." The draft also creates a "Bitcoin Purchase Program" to purchase no more than 200,000 bitcoins per year for five years, totaling 1 million bitcoins. In addition, Lummis also called on the U.S. Treasury Department to publish quarterly reports and make them public on its website. (The Block)