President-elect Donald Trump proposed a strategic bitcoin reserve during the Bitcoin 2024 Conference, mentioning that much of the bitcoin held by the U.S. government comes from law enforcement actions. Senator Cynthia Lummis introduced the Bitcoin Reserve Bill to the Senate, but it did not progress. Lummis plans to revive the bill with potential co-sponsors as Congress begins a new term. The bitcoin reserve has emerged as one of Trump's clearer commitments to the crypto industry, contrasting with more vague promises like firing SEC Chair Gary Gensler or forming a digital asset advisory council. However, skepticism remains regarding the bill's political backing and its ability to leave committee amid competing legislative agendas. An indication of the bill's potential success could be the DOJ's decision on whether to auction $6.5 billion in bitcoin, previously seized, before Trump takes office.

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