The US Congress is holding a Bitcoin Strategic Reserve Advancement meeting today, with the bill calling for the purchase of 1 million bitcoins within 5 years.

On September 17th, as reported by Crypto in America, a meeting on Bitcoin Strategic Reserve Legislation was held in the U.S. Congress on the same day. Several Republican lawmakers, including Senators Ted Cruz and Marsha Blackburn, as well as industry representatives like MicroStrategy founder Michael Saylor, attended the meeting. The "BITCOIN Act" was reintroduced by Senator Cynthia Lummis in March of this year. The bill intends to designate Bitcoin as a national strategic reserve asset on an equal footing with gold and requires the U.S. government to acquire 1 million bitcoins within the next 5 years. Hailey Miller, the Policy Director of Digital Power Network, stated that there was a strong consensus among the attendees regarding the need for a strategic Bitcoin reserve, and the next step would be to integrate it into a broader policy framework. This proposal is a further development of the policy previously enacted by President Trump to prohibit the sale and seizure of Bitcoin. It is worth noting that this proposal still encounters controversy outside the cryptocurrency community, and Lummis herself admitted that it may take some time to convince her congressional colleagues.