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Pro-crypto U.S Senator Cynthia Lummis has advised countries to diversify military spending to Bitcoin. Market analysts have split the forecast for Bitcoin price but with a potential long-term rally. Republican Senator Cynthia Lummis continues to pledge support for Bitcoin (BTC), the flagship cryptocurrency. Recently, she insinuated that the US’s entry into Bitcoin may terrify competing countries such as China and Russia. Senator Lummis’ Bitcoin Global Adoption Proposal While speaking in a Bankless interview, Lummis advocated for global Bitcoin acceptance rather than a weapons race.  “Wouldn’t it be fun if the US is buying #Bitcoin and it scares China and Russia so they start buying Bitcoin and we have an arms race over Bitcoin instead of over weapons,” Lummis opined. The staunch proponent proposed that governments challenge each other with their Bitcoin purchase. She wants countries heavily invested in military facilities to view Bitcoin as a store of value capable of wielding economic downturns. “Wouldn’t it be fun if the US is buying #Bitcoin and it scares China and Russia so they start buying Bitcoin and we have an arms race over Bitcoin instead of over weapons.” – Senator Lummis 🇺🇸 pic.twitter.com/Ng3au67BVq — Kevin Williams (@KevinWilliams) January 7, 2025 The Republican senator believes the US purchasing Bitcoin could spur countries like Russia and China to consider similar steps. As a result, these countries can shift their competitive focus to the flagship cryptocurrency rather than on weapons. Senator Lummis’ global Bitcoin proposal is driven by her belief that the digital asset is a safe store of value. Last year, Lummis pushed for Bitcoin legislation for the US to acquire 1 million Bitcoin units over five years as a strategic reserve asset. She also proposed that the US sell some old gold coupons to buy Bitcoin.  The Senator’s unwavering support for Bitcoin and…

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Filed under: News - @ January 9, 2025 1:19 am