The US Congress will hold a meeting to advance the Bitcoin Strategic Reserve, with a bill requiring the purchase of 1 million BTC within 5 years.

ChainCatcher news, according to Crypto in America, the U.S. Congress held a legislative advancement meeting on Bitcoin strategic reserves on September 17. Several Republican lawmakers, including Senators Ted Cruz and Marsha Blackburn, as well as industry representatives such as MicroStrategy founder Michael Saylor, attended the meeting.

The "BITCOIN Act" was reintroduced by Senator Cynthia Lummis in March this year. The bill aims to include Bitcoin as a national strategic reserve asset on par with 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, stated that all parties at the meeting reached a strong consensus on the necessity of a strategic Bitcoin reserve, and the next step will be to promote its inclusion in a broader policy framework. This proposal is a further extension of former President Trump's policy prohibiting the sale of seized bitcoins.

It is worth noting that this proposal remains controversial outside the cryptocurrency community, and Lummis herself admitted that persuading her congressional colleagues may take a considerable amount of time.