According to BlockBeats, on July 25, three crypto industry executives familiar with the bill said that Republican Senator Cynthia Lummis of Wyoming is planning to announce Bitcoin strategic reserve legislation at the Bitcoin Conference.

While the specific contents of the bill are unclear, according to a person who has seen an early draft, the bill is intended to instruct the Federal Reserve to purchase Bitcoin and hold it as a reserve asset to help manage the U.S. monetary system and keep the value of the dollar stable.

As of press time, Lummis’ plans remain uncertain and the announcement could be delayed. But people who have had direct contact with some of Lummis’ staff said she hopes to announce her bill during Saturday’s session, and her staff is hopeful Trump will support the bill and the ideas behind it.

Lummis has been hinting at a big announcement on her X account this week, writing: "Big things coming up this week, stay tuned".