Cynthia Lummis, a senator-elect for the state of Wyoming, hopes to make Bitcoin visible in the national debate in the United States. Mainly, because it considers that it is an efficient value protection mechanism that will play an important role in the future.
During an interview On national television, Lummis contrasted the emission mechanisms of Bitcoin and the dollar. For her, cryptocurrency leads fiat money by having a limited supply, while the money issued by the Federal Reserve (Fed) is inflationary.
“Our own currency is inflationary. Bitcoin no. There will only be 21 million bitcoins mined. That’s it. It is a finite supply, ”explained the senator, Wyoming’s first woman elected to that position.
Additionally, the former congresswoman and member of the Republican Party recalled her past as treasurer of her town and her constant search for a good safeguard asset. “Bitcoin fits that search,” added the senator..
Lummis is known in the political arena as the first senator to publicly acknowledge owning bitcoin. Such as CriptoNoticias reviewed at the time of your choice a couple of weeks ago, Lummis introduces himself as hodler bitcoin (saver) and he claims never to have sold since he invested for the first time, in 2013.
On that occasion, Lummis had already referred to the contrast between the cryptocurrency created by Satoshi Nakamoto and the US dollar. Today’s senator praised Bitcoin’s scheduled shortage as her great strength as a safeguard of value.
Already during his time in the Wyoming House of Representatives, Lummis promoted bills that would encourage the development and advances in Bitcoin and blockchain projects. According to his own statements, he will now seek to take this position nationally.
Bitcoin arouses more and more interest
Just this year, various companies have joined the investment in Bitcoin on behalf of their respective wealth. Particularly, with a position like Lummis, recognizing in Bitcoin a potential safeguard of value with respect to the devaluation of fiat money.
On that list we find MicroStrategy, whose CEO Michael Saylor has taken the lead as an enthusiastic promoter of Bitcoin. In addition to the investment From the company’s $ 425 million, Saylor has come out in favor of Bitcoin, even in contrast to gold.
Square, company of Jack Dorsey, founder of Twitter, also has invested recently in Bitcoin. Meanwhile, hedge fund manager Stanley Freeman Druckenmiller has manifested about Bitcoin as a reliable haven asset.
The arrival of Lummis as a senator seems to add a new voice for the promotion of Bitcoin in the United States. So far, the North American country has not shown interest in changing its monetary issuance mechanisms.
In It is The medium has reviewed how the Fed maintains its monetary impression stance. Even economists at the institution have said that Bitcoin “is not a new type of money” and that its value lies solely in trust. We will see if Lummis achieves a paradigm shift in this regard from the Senate.