Senator Lummis Says U.S. Military Commanders Back Bitcoin as National Security Asset

On June 4, 2025, Senator Cynthia Lummis (R–Wyo.) told Bloomberg that U.S. generals “disagree” with JPMorgan CEO Jamie Dimon’s advice to “buy bullets, not Bitcoin.” Lummis said the military sees a Strategic BTC reserve as vital in an “economic war” with China.

Bitcoin as a Battle Asset: Generals Back Digital Reserves

Proponents contend that pairing traditional defense assets with Bitcoin reserves fortifies U.S. economic resilience. Lummis emphasizes that senior officers, especially those stationed in Southeast Asia, recognize Bitcoin’s value as a strategic asset. Lummis’s BITCOIN Act would allocate one million BTC to a national reserve over five years, framing Bitcoin as a hedge akin to gold.

All we need to do is look to the leadership of the current U.S. Military to find support for a strategic Bitcoin Reserve,

Lummis stated, adding, “We need both” [guns and crypto to confront economic warfare].

• Blockchain analysts highlight that Bitcoin reserves held by the military could enable rapid cross-border value transfer during crises.
• According to proponents like Lummis, some military officers believe: armed forces using Bitcoin could bypass traditional banking, ensuring operational funds remain accessible under duress.

Cryptocurrencies, in Cynthia’s words, offer “operational flexibility” in contested regions where sanctions and financial chokepoints could hamper conventional funding channels. Web3 credibility is reinforced with institutional openness to digital ledgers for logistics and supply-chain security.

Militaries Eye Crypto, But Bitcoin’s Resilience Remains Unproven

Jamie Dimon bluntly told Congress that the U.S. should focus on “guns, bullets, tanks, planes, drones, and rare earths” instead of stockpiling Bitcoin. Critics say his warning highlights real risks—Bitcoin’s wild price swings and looming regulations could leave reserves frozen when commanders need them most. Furthermore, if significant funds are diverted to cryptocurrency acquisitions instead of traditional defense procurement, military regiments could face shortages of essential weapons and equipment:

• A hawkish Fed pivot or swift regulatory crackdowns, ordnance maximalists’ standpoint reads, could render Bitcoin reserves illiquid when most needed. 
• Financial analysts express caution: Bitcoin’s price swings—ranging from $90,000 to $120,000 in recent months—undermine its reliability as a strategic asset, with a potential to trigger forced liquidations at unfavorable prices. 
• Moreover, cryptocurrencies and crypto exchanges remain the priced target for cyberattacks and sanctions. These vulnerabilities could put military access to BTC reserves in jeopardy.

Market observers caution: if U.S. Fed signals tapering at its late-June meeting, liquidity may tighten, leaving BTC vulnerable. Spike in M2 did not guarantee crypto upside when macro uncertainty loomed, noting Bitcoin’s potential to revisit $100,000 level, if sentiment turns risk-off. 

To add insult to injury, high transaction fees and network delays under load could impede rapid fund transfers—deadly for military logistics—while potential new U.S. regulations may force public disclosure of Bitcoin reserves, exposing them to adversarial targeting.

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