If passed, the legislation introduced in the Senate would have the Treasury and the Federal Reserve purchase 200,000 tokens each year, for a period of five years. With a million tokens in total, this

President-elect Donald Trump has expressed support for the bitcoin idea, which some economists see as inflationary and costly, depending on its implementation.

Trump's pledge to create a bitcoin stockpile has been one of the bullish developments that's propelled the token to all-time highs since the election.

Bitcoin came within a whisker of closing above $100,000 for the first time on Thursday as the election of Republican Donald Trump as U.S. president spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

A group of one dozen US Bitcoin exchange-traded funds is on the cusp of a record monthly net inflow, bolstered by the digital asset’s historic surge toward $100,000 on President-elect Donald Trump’s embrace of crypto.