Senator Cynthia Lummis of Wyoming is preparing to introduce new legislation that would require the Federal Reserve to hold bitcoin as a strategic reserve asset, as reported by Fox Business News. According to three anonymous individuals with knowledge of the matter, the bill is set to be announced at the annual Bitcoin Conference in Nashville, Tennessee, and aims to elevate bitcoin to the same status as gold and foreign currencies within the U.S. monetary system. Lummis has reportedly been discreetly seeking support from her Senate colleagues and hopes to gain endorsement from former President Donald Trump during his speech at the event. While the specifics of the bill remain unclear, it represents a significant shift in how digital assets could be integrated into the federal financial strategy.
