Showing posts with label senator lummis. Show all posts
Showing posts with label senator lummis. Show all posts

US Senator Says She's HODLing Bitcoin, Says Reckless Gov Spending Is Bringing People To Crypto...

US Senator Cynthia Lummis

US Senator Cynthia Lummis wants the dollar to remain a world reserve currency, but believes that bitcoin (BTC) is playing a positive role as a store of value asset.  The 66 year old Senator from Wyoming is actually HODLing for retirement, saying:

"I own #bitcoin because it’s a great store of value. I save it, so when I retire, I know it’s there.

Lummis also says the US government is actually promoting bitcoin - by accident.  Citing how big spending, and printing money leads to inflation, and it's that fear of that inflation acts as a promotion for Bitcoin.

"Big gov spenders are (accidentally) doing far more to accelerate the adoption of digital assets than I am. The debasement of our currency is causing a flight to digital assets like bitcoin that are a store of value." she tweeted.

Says Bitcoin has performed well as 'store of value'...

Lummis said that she believes in bitcoin as a store of value asset, offering protection against fiat cash inflation. For this reason any laws passed in the US regarding crypto should continue to allow people access to digital currencies.

Regulations should also be clear and offer 'solid definitions' since a major criticism is that regulators have been inconsistent and unpredictable with their enforcement so far.

Miners Welcome...

Senator Lummis also invited miners recently shut down in China to relocate to the United States, specifically places like Pennsylvania, Texas, Wyoming, and elsewhere.

Author: Fernando Perez
Latin America Newsdesk