The US Congress will hold a meeting to promote Bitcoin strategic reserves, and the bill requires purchase of 1 million BTC within 5 years.

According to ChainCatcher, according to Crypto in America, the US Congress held a legislative promotion meeting on Bitcoin strategic reserves on September 17. Several Republican lawmakers including Senator Ted Cruz, Marsha Blackburn, and industry representatives including MicroStrategy founder Michael Saylor attended the meeting. The BITCOIN Act, re-introduced by Senator Cynthia Lummis in March, aims to include Bitcoin in a national strategic reserve asset that is equal to gold and requires the U.S. government to acquire 1 million bitcoins over the next five years. Hailey Miller, policy director at Digital Power Network, said that the parties at the meeting reached a strong consensus on the need for strategic bitcoin reserves and the next step will promote its inclusion into a broader policy framework. The proposal is a further extension of President Trump's previous policy of banning the sale and seizure of Bitcoin. It is worth noting that the proposal remains controversial outside the cryptocurrency community, and Lummis himself admits it may take longer to convince his congressional colleagues.