Extract Even Bits Only from 32-bit Register

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

uint32_t extract_even_bits(uint32_t reg) {
    uint16_t result = 0U;
    for(uint8_t i=0;i<16;i++){
        uint8_t bit = (reg & 1U);
        result |= (bit << i);
        reg >>= 2;
    }
    return result;
}

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

Solving Approach