- US Senator Cynthia Lummis says some American military officials support creating a national Bitcoin reserve.
- She states that this reserve could help prepare for economic conflicts with China.
- Lummis claims support from certain US generals in Southeast Asia for the reserve.
- US military believes storing Bitcoin could serve as a strategic asset in both economic and traditional warfare.
- China has banned crypto activities since 2021, but still uses blockchain for digital currency projects.
US Senator Cynthia Lummis recently stated that some divisions of the American military back creating a national Bitcoin reserve. She made these remarks during a Bloomberg interview on June 3, saying the reserve could help address challenges from economic competition with China.
In her interview, Lummis highlighted that certain military leaders, especially those in Southeast Asia, support holding Bitcoin as a strategic asset. “All we need to do is look to the leadership of the current US military to find support for a strategic Bitcoin reserve,” Lummis said.
She explained that these US generals see Bitcoin as important due to ongoing economic tensions with China and the potential for future military conflicts. “There are generals, especially in Southeast Asia, who believe it’s important to have a strategic Bitcoin stockpile because we’re doing an economic war with China and we have to prepare for a guns and bullets war. But we need both,” Lummis added. Cointelegraph reported that the US Department of Defense had not commented by the time of publication.
Her statement comes as the US and China face ongoing trade tensions that began under the Trump administration. The US initially applied tariffs to many trading partners, then focused them mostly on China before signing a temporary trade agreement to reduce friction.
Former President Donald Trump has also promoted the idea of making the US the “world capital of crypto” if he wins a second term. Citing competition with China, Trump noted, “If we don’t do it, China is going to pick it up and China’s going to have it, or somebody else, but most likely China,” according to Bloomberg.
China banned most crypto activities in 2021, but continues to use blockchain technology for projects such as its state-backed digital currency, the digital yuan. At the Bitcoin 2025 event on May 28, US Vice President JD Vance said the US must keep its leadership in crypto to stay competitive in the evolving financial sector.
For more information, see the original Bloomberg segment here.
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