Cynthia Lummis: US military leadership strongly supports Bitcoin reserves, Trump media fundraising to buy BTC is visionary.

Crypto-friendly Senator Cynthia Lummis said in an interview on 6/4 this morning that a number of high-level US military officials have supported the establishment of a "bitcoin strategic reserve" to deal with the US-China economic war and potential military conflict. The much-watched stablecoin bill "GENIUS Act" is also about to be voted on in the Senate.

In response to some voices questioning the Trump family's media company (DJT) raising funds to purchase Bitcoin, which constitutes a conflict of interest. Lummis explained: "Trump's willingness to invest in the digital economy is a forward-looking expression and quite visionary."

The stablecoin bill is expected to pass next week, and discussions on yield-bearing stablecoins will continue.

Lummis was the first to indicate that the stablecoin bill, the "GENIUS Act," would begin voting this week, but due to numerous amendments being proposed, the vote will be postponed until next week. In response to concerns from the Democrats that the bill could encourage illegal financial activities, Lummis stated that both sides have reached a preliminary consensus.

However, there are still variables. Lummis pointed out that whether the bill can pass smoothly depends on whether someone wants to forcefully add provisions related to "credit card transaction fee caps." If so, it may jeopardize the bill.

Regarding why the bill prohibits the issuance of yield-bearing stablecoins, Lummis stated that she supports it, but to get the bill passed, it must be excluded for now. She mentioned that it may be revisited after it is sent to the House in the future.

The senior officials of the US military also support Bitcoin reserves, aiming to solve the national debt issue.

Interestingly, Lummis also revealed that senior U.S. military officials stationed in Southeast Asia believe that the United States should establish a "Bitcoin strategic reserve" to respond to the economic war with China and potential military conflicts.

She suggested that the encryption assets seized by US law enforcement could be used as the basis for the first year of the Bitcoin strategic reserve. After that, other existing and different forms of assets can be converted into Bitcoin for long-term holding. Here are Lummis's Bitcoin reserve goals:

Let the U.S. government hold 1 million Bitcoins

5% of the total Bitcoin supply in the world, and held for 20 years.

Mainly solve the national debt problem.

The Congress will clarify the regulatory jurisdiction of encryption assets.

Lummis pointed out that the Senate will next focus on the "Market Structure Reform Bill" to clarify which assets are regulated by the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC). She stated:

Bitcoin (BTC) is a commodity (Commodity) and should be regulated by the CFTC.

Centralized exchanges like Coinbase and Kraken, which are involved in token issuance and trading, are regulated by the SEC.

She also emphasized that the stablecoin bill and the market structure bill will be handled separately and will not interfere with each other.

Lummis believes that Trump's fundraising to buy coins is visionary, and the U.S. digital reserve only considers Bitcoin.

Regarding the fundraising of 2.4 billion USD by Trump's media company (DJT) to purchase BTC, is there a conflict of interest? Lummis explained this:

"This is no different from owning hotels, resorts, and other real estate. The key is that it is forward-looking, investing in digital assets early, which is quite visionary."

She added:

"Our model shows that the price of Bitcoin will rise rapidly in the future, then slow down. Within the next 10 years, 99% of Bitcoin will be mined. BTC still has huge growth potential in the coming decade."

She emphasized that if the United States were to establish a digital asset reserve, it would only choose to adopt Bitcoin, which uses Proof of Work, PoW, due to its irreplaceable scarcity and security.

(Trump Media has raised $2.4 billion in funding and will become the fourth publicly traded company to hold Bitcoin)

This article Cynthia Lummis: The US military high-level support for Bitcoin reserves, Trump media fundraising to buy BTC is visionary first appeared in Chain News ABMedia.