Extract Even Bits Only from 32-bit Register

#include <stdio.h>
#include <stdint.h>

uint32_t extract_even_bits(uint32_t reg) {
    // Your code here
    uint32_t myreg = 0;
    for(uint32_t bit = 0; bit < 16; bit++){
        myreg |= (reg >> (2*bit) & 1U) << bit;    
    }
    return myreg;
}

int main() {
    uint32_t reg;
    scanf("%u", &reg);
    printf("%u", extract_even_bits(reg));
    return 0;
}

Solving Approach