Senator Cynthia Lummis made headlines at the 2025 Bitcoin Conference in Las Vegas, where she revealed that several US military generals are in favor of establishing a Bitcoin reserve to enhance the nation’s economic deterrence capabilities.
During her speech, Lummis disclosed that she had conversations with high-ranking military officers who recognize the importance of economic power in deterring adversaries on a global scale. These officers expressed strong support for the idea of creating a strategic Bitcoin reserve to bolster national security.
In a significant move, Lummis, along with five other Republican senators, reintroduced a bill aimed at adding up to 1 million BTC to the US Treasury over the next five years. This legislative effort aligns with President Donald Trump’s executive order signed earlier in the year, which called for the establishment of a strategic Bitcoin reserve and digital asset stockpile.
Lummis emphasized the strategic importance of Bitcoin reserves as part of the country’s overall energy policy and industrial capacity. She pointed to China’s ban on mining activities in 2021, which resulted in a shift of mining hash rate to North America. Drawing parallels with Fort Knox, Lummis highlighted the potential for the US to hold a significant portion of the global Bitcoin supply, similar to its position in the gold market.
The senator also highlighted the growing momentum at the state level regarding Bitcoin reserves, with states like Arizona and New Hampshire enacting legislation to establish their strategic reserves. She noted that this state-level action could serve as a catalyst for federal government involvement in Bitcoin reserves.
Lummis pointed to global demand for Bitcoin reserves, citing examples like the Abu Dhabi sovereign wealth fund increasing its exposure to Bitcoin through US-based exchange-traded funds. She also mentioned the Czech National Bank’s interest in studying Bitcoin for its portfolio, highlighting the growing interest in Bitcoin as a strategic asset.
In closing, Lummis urged federal officials to view Bitcoin as “digital gold” and emphasized the need for formalized reserve guidelines to prevent other nations from securing larger shares of the limited 21 million-coin supply. She believes that embracing energy-intensive proof-of-work mining and establishing a strategic reserve would solidify US leadership in both monetary and industrial realms.
Overall, Lummis’s advocacy for Bitcoin reserves signals a shift towards recognizing the strategic value of cryptocurrencies in the national security and economic landscape. As state initiatives pave the way, the federal government may soon follow suit in adopting and scaling Bitcoin reserves to secure the country’s financial future.