Three executives from the cryptocurrency industry who are familiar with the bill said that Republican Senator Cynthia Lummis from Wyoming, who supports cryptocurrency, is planning to announce BTC strategic reserve legislation at the Bitcoin conference. Although the specific content of the bill is not yet clear, a person who has seen the draft said that the purpose of the bill is to instruct the Federal Reserve to purchase Bitcoin and hold it as a reserve asset, just like the US central bank holds gold and foreign currencies to help manage the US monetary system and maintain the stability of the value of the US dollar.
As of the time of publication, Lummis' plan has not yet been confirmed and the announcement may be postponed. However, individuals who have had direct contact with some of Lummis' staff said that she hopes to announce her bill at the Saturday meeting and her staff hopes that Trump will support the bill and its underlying ideas.
Lummis has been hinting at a major announcement on her X account all week, writing, "Something big is happening this week, stay tuned."