Pro-Bitcoin Sen. Cynthia Lummis (R-Wyo.) has voiced support for Elon Musk’s recent comments praising Bitcoin (BTC) as a counterweight to inflation and government overspending.

On Oct. 14, the senator responded to Musk's post on X, “Add this to the reasons why a Strategic Bitcoin Reserve is the wisest thing we can do to shore up USD. It secures our debt with a hard asset + we can audit it to prove reserves at any time. Given its scarcity, we can also use it in 20+ yrs to retire a meaningful % of US debt.”

Related: Bitcoin Evangelists Musk, Saylor and Winklevoss React to Crypto Crash

On Oct. 14, Musk expressed that Bitcoin’s foundation in energy makes it a superior store of value over government decree when nations are racing to dominate the AI sector.

Responding to a post by ZeroHedge, he agreed that the global AI arms race could spark massive spending and, ultimately, currency debasement.

“True,” Musk wrote on X. “That is why Bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy.”

True.

That is why Bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy.

— Elon Musk (@elonmusk) October 14, 2025

Lummis is one of the most outspoken crypto advocates in the U.S. Congress. The Wyoming Republican has championed Bitcoin and has previously pushed for clear digital asset regulation, arguing that Bitcoin strengthens fiscal integrity and American financial competitiveness.

On Sept. 16, she hosted a roundtable of the top leaders from the crypto industry in Washington, D.C., to push forward the BITCOIN bill that mandates the U.S. government to purchase up to 1 million BTC.

Among the attendees were Michael Saylor of MicroStrategy (NASDAQ: MSTR) and Fred Thiel of Marathon Digital Holdings (NASDAQ: MARA).

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Senate Banking Committee members are in talks to draft a digital asset bill clarifying oversight roles between the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). However, the absence of agency staff to advise on regulatory scope and technical definitions is slowing down the progress.

This story was originally reported by TheStreet on Oct 14, 2025, where it first appeared in the Policy section. Add TheStreet as a Preferred Source by clicking here.