U.S. generals support a strategic Bitcoin reserve – statements from Cynthia Lummis draw further attention to Bitcoin’s role in global competition. This clearly echoes Trump’s recent move towards Bitcoin, as well as the ongoing competition with China.
Is a Bitcoin Reserve a Matter of National Importance?
First and foremost, Senator Cynthia Lummis highlighted Trump’s regulatory initiatives as a strong foundation for creating a Bitcoin-friendly environment, more favorable than that of China. So, even if China suddenly accelerates Bitcoin mining, it would still have to catch up in terms of pro-crypto regulations, which are already actively progressing in the United States.
Lummis then made another significant statement, noting that representatives of the U.S. military command are “big supporters” of the idea of creating a strategic Bitcoin reserve as a mechanism of economic resilience and a tool of geopolitical competition.
“I’ve talked to generals in our military, who understand that economic power is as important as military power in addressing aggressors around the world, and there are generals in our military right now who are big supporters of having a strategic Bitcoin reserved for that reason.”
Lummis also emphasized the role of the political and legislative autonomy of individual states, where such initiatives are emerging, with Bitcoin reserve bills actively discussed in various states, particularly Arizona and Texas.
“The states are where the innovation is occurring, so you have Arizona, Texas, and New Hampshire pass strategic Bitcoin reserve bills this year, you have 30 states consider strategic Bitcoin reserves.”
Naturally, Lummis referenced the global trend and the key role of international partners, fairly noting that such partnerships are made possible precisely due to the pro-crypto regulations already in place.
“We have the United Arab Emirates purchasing Bitcoin through American exchange-traded funds that’s good for America because they’re gonna build their sovereign wealth and Bitcoin through an American ETF. We have the Czech Republic investigating through its central bank, adding Bitcoin to its diversified asset allocation, so it’s happening all over the world.”
Lummis concluded her statement by asserting that a national Bitcoin reserve is critically important for the future of the United States, drawing a parallel to the gold reserve. I recently wrote about why analogies between physical and digital gold often require clarification, but this is one case where the comparison is entirely warranted.
“It’s important that our government include among strategic assets Bitcoin as digital gold. We have about 5% of the world’s gold in the United States in reserve, we need to have at least 5% of Bitcoin in our reserve.”
Conclusion
Another strong statement from Senator Cynthia Lummis – and far from an empty one. Her consistent and persistent stance on the Bitcoin reserve has played a key role in shaping the current policy environment.
