As Americans are awaiting the country to adopt crypto more openly, US Senator Cynthia Lummis talked in favor of Bitcoin saying that “I love that it can’t be stopped, especially because I’m concerned about our national debt.” Lummis also emphasized that she is also concerned about inflation.
In an interview with Hard Money’s Natalie Brunell, she shared her opinions on Bitcoin and said “I see people in my home state of Wyoming that go to food banks now because they need gasoline, they need fuel, to get to their jobs, and they have to choose between high-priced gasoline and food so they are going to food banks for their food.”
She elaborated that when we see things that are inflationary, when we see the value of a dollar drop when you go to the grocery store and you come out with one sack of food at the price you used to get two. She continued, “we really need to look at assets that are going to be there for the long term”
Lummis then said, “That’s why to me it’s actually comforting to know that bitcoin is there.” She said that in some countries where the government is unstable, it can come to take people’s homes and property.
The senator from Wyoming introduced a crypto bill titled “Lummis-Gillibrand Responsible Financial Innovation Act” in June with Senator Kristen Gillibrand.
In reference to this bill, she provided an updated saying, “this is a very comprehensive piece of legislation, probably too comprehensive given the time remaining in 2022 for the bill to pass.” She added that it gives us more time to get more input on the bill and we want people to provide additional input and ideas and thoughts.
The latest statements supporting Bitcoin weren’t surprising as she recently revealed a Bitcoin purchase worth between $50,001 to $100,00. It is also said that Lummis has long been planning to invest in bitcoin and other cryptocurrencies through her retirement fund.
