One of the US Senate candidate, Cynthia Lummis, is pro-bitcoin. When she was in Congress, she bought her first bitcoin. Cynthia calls herself a hodler and sees the cryptocurrency as a viable alternative store of value to the US dollar.
Bitcoin Supporter in the Senate:
In the US House of Representatives, Cynthia assisted Wyoming as a conservative Republican for eight years. Cynthia Lummis is now in the running for the US Senate, with the approval of US President Donald Trump.
Through the third annual Wyoming Blockchain stampede on Sunday, Cynthia publicized that she is a bitcoin hodler. She also mentioned that in 2013 she had bought her first Bitcoin.
Lummis said that I first learned about BTC when I was in Congress. She explained that I was hit by how to advance bitcoin is with its regionalized public record and fixed supply.
As Cynthia was helping as a State Treasurer, she was always in search of a good store of value. It is because one of her responsibility was to invest the Permanent Wyoming Mineral Trust Fund.
Due to its massive mineral resources, the government of Wyoming has “noteworthy savings.” Lummis exposed that the treasurer of the state presently manages about 20 billion dollars in savings spread through nine investment pools.
Last week one of the citing economists Nassim Taleb speaks about the current value of the dollar as a reserve currency. He says that today the most undervalued threat in financial markets is that the dollar stops to be reserve money.
After the statement of Nassim Taleb, Cynthia emphasized that this is something we should all concern. Her goal was to solve this problem so that the dollar does not lose its position as the world’s reserve currency. It was not only Nassim Taleb who has warned about this problem. In July, a similar cautioning given by Goldman Sachs.
“I wish to address the debt of America when I go to the US Senate. However, I also want to defend the value that America’s workers produce through their work. We can’t carry on debasing our currency and expecting that the American workers’ salaries and savings will be unaffected,” Lummis continued. She was stressing on the importance of stopping American savers’ rapid damage in purchasing power.
The previous US envoy commented that BTC had shown great promise to me. It may grow as a valuable alternative to the US dollar at both the institutional and personal levels.
Cynthia then publicized how she got into bitcoin, declaring:
In 2013 I bought my first BTC because I trust in the economic power of shortage. And also believe in the potential for BTC to address some of the management in our financial system. Lummis added that I am a hodler, and I hodl because I want to reserve the comparative value of my labour over time like gold.