ChainCatcher reported that according to The Block, Senator Cynthia Lummis said she will introduce a bill next week to instruct the U.S. Treasury to purchase 1 million bitcoins (worth about $69 billion) within five years. She said the move was to offset the impact of the depreciation of the U.S. dollar.

She said the bill would require the U.S. Treasury to keep bitcoins in "multiple geographic locations." The government will hold these tokens for at least 20 years unless they are sold to "reduce debt"