Senator Cynthia Lummis plans to present a bill to the Senate next week for the acquisition of 1 million Bitcoins.
The bill aims to create a strategic BTC reserve for the US government to strengthen the nation's balance sheet through a long-term investment strategy.
Various proposals like BitBonds and recommendations from industry leaders are being considered to implement the bill effectively.
The success of the Bitcoin Act depends on gaining support from Senate colleagues to increase the US government's Bitcoin holdings, which are currently estimated to be around 200,000 BTC.