Senator Cynthia Lummis Says U.S. Military Generals Are Pro Bitcoin

Bitcoin’s narrative as a unique investment choice has garnered massive attention in the United States. To such an extent that even military officials are showing interest in the leading cryptocurrency.

At the ongoing Bitcoin Conference in Las Vegas, U.S. Senator Cynthia Lummis revealed that some U.S. military generals have become advocates for Bitcoin.

“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. [. . .] There are generals in our military right now who are big supporters of having a strategic Bitcoin reserve for that reason,” Lummis said.

U.S. to Adopt Bitcoin Strategic Reserve

Months before his emergence as the U.S. president, Donald Trump repeatedly hinted at the possibility of adopting a strategic Bitcoin reserve. In March, he signed an executive order that greenlights the creation of this Bitcoin-focused reserve. A crypto czar mentioned at the time that the reservoir will be funded using confiscated BTC from criminal offenders.

Lummis emphasized that adopting Bitcoin as a reserve asset will give the U.S. a geopolitical advantage over other nations. Aside from U.S. military generals, she cited 30 states that have moved to embrace the leading crypto asset. Some include Iowa, Utah, Ohio, Texas, North Dakota, and Kentucky.

The senator stressed that, given the country’s approximately 5% share of the world’s gold, it should also hold a corresponding 5% of Bitcoin’s supply in reserve. Interestingly, an American company, Strategy, is gradually approaching that level by holding over 2.9% of the asset’s circulating supply.

Trump Supports the Bitcoin Act Bill: Lummis

The Wyoming senator added in her speech that the president supports the Bitcoin Act bill. This legislation serves as a stepping stone toward establishing a Bitcoin reserve.

Experts from the White House are working on crafting the legislative guardrail in the coming weeks. Once finalized, the government will accumulate up to one million BTC over a five-year duration and hold for a minimum of two decades.

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