Sen. Cynthia Lummis (R-Wyo.) reintroduced legislation Tuesday to create a bitcoin strategic reserve, seeking to codify President Trump’s executive order last week establishing a reserve. The bill, which Lummis first introduced last year, would direct the government to purchase 1 million Bitcoins over five years that would be transferred into a “decentralized network” of storage facilities. The funds for the bitcoin purchases would come from “diversifying existing funds” in the Federal Reserve system, according to a press release. The first $6 billion in remittances from reserve banks would be set aside each year ... (full story)