$BTC 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 to 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 between 2025 and 2029 to build up the reserve. It would also rely on the Fed’s gold certificates. 

“Bitcoin is not simply a technological opportunity, but a national imperative for America’s continued financial leadership in the 21st century,” Lummis said in a statement.