Senator Lummis Advocates for Bitcoin Reserve at 2025 Bitcoin Conference
At the 2025 Bitcoin Conference held in Las Vegas on May 27, Senator Cynthia Lummis revealed that high-ranking military officials in the United States are in favor of creating a Bitcoin (BTC) reserve to enhance the country’s economic deterrence capabilities. In her remarks, Lummis indicated that her discussions with these senior military officers underscored the importance of economic strength in tandem with military power for countering global aggressors. She noted that these officers are well-versed in the strategic advantages of having a Bitcoin reserve.
Proposal for Bitcoin Accumulation
Earlier this year, Lummis along with five other Republican senators reintroduced a proposal aimed at gradually accumulating up to one million Bitcoins for the US Treasury over a period of five years. This move aligns with President Donald Trump’s recent executive order aimed at establishing a strategic Bitcoin reserve. In her address, Lummis positioned Bitcoin reserves as a critical extension of US energy policy, linking it to the country’s industrial capacity and highlighting the exodus of Bitcoin mining from China due to its ban in 2021. This shift has significantly boosted the hash rate in North America. In light of this, she emphasized the necessity of pairing domestic mining operations with federal investments to secure a geopolitical advantage for the US.
Comparative Analysis and State Initiatives
Drawing a comparison to Fort Knox, Lummis expressed that just as the US holds around 5% of the world’s gold reserves, a similar target for Bitcoin should be established. She also pointed to state-level initiatives across the country that indicate growing momentum for Bitcoin reserves, with Arizona and New Hampshire having enacted related legislation and lawmakers in over thirty states considering similar measures. Despite some setbacks, around eleven states continue to push for Bitcoin-related legislation, with Texas leading the charge.
Lummis characterized these state-level efforts as “incubators of innovation” and suggested that they would exert pressure on federal legislators and the Treasury Department to adapt accordingly.
International Interest and Future Implications
She highlighted international interest in Bitcoin, mentioning that the Abu Dhabi sovereign wealth fund, Mubadala, has recently increased its Bitcoin investments through US-based exchange-traded funds. Additionally, the Czech National Bank is researching Bitcoin for inclusion in its portfolio, which Lummis stated could bolster America’s position in sovereign wealth accumulation linked to Bitcoin investments.
Conclusion on Regulatory Frameworks
In her conclusion, Lummis called on federal officials to approach Bitcoin as a form of “digital gold” rather than a mere speculative asset. She stressed the importance of establishing regulatory frameworks for Bitcoin reserves before other countries secure larger proportions of the finite 21 million Bitcoin supply. She reiterated that investing in energy-intensive proof-of-work mining alongside creating a strategic reserve would solidify the US’s leadership in monetary and industrial sectors, suggesting states have already charted a course that the federal government can adopt and scale.
