Pro-crypto Senator Cynthia Lummis has introduced the Strategic Bitcoin Reserve Legislation, aiming to establish a national Bitcoin reserve.
The initiative has gained support from industry leaders and aims to create decentralized Bitcoin vaults, acquire one million BTC, and affirm self-custody rights of private BTC holders.
Representative Ro Khanna, a Democrat, has also endorsed the initiative and called for Bitcoin to be considered as a legitimate reserve asset.
Bitcoin is currently trading at $74,740, after hitting a record high of $75,500.