US Senator Cynthia Lummis expressed her concerns about the public debt and rising inflation. She believes that in order to save their own funds, citizens should invest in bitcoin.
In a recent interview, Wyoming Senator Cynthia Lummis once again spoke out in favor of the first cryptocurrency. According to her, bitcoin can no longer be stopped – governments cannot simply confiscate cryptocurrencies, and this is the main advantage of digital assets. Therefore, in the current economic climate, people should pay attention to bitcoin if they want to save their savings from rising prices, Lummis said.
“I see how people in my home state of Wyoming are forced to turn to food banks. They need gasoline to get to work and have to choose between fuel and food. The value of the dollar is falling, and now people buy half as much food with the same money as before. It makes a lot of sense to pay attention to assets that will exist in the long term. This is bitcoin and I’m glad it exists,” Lummis said.
The senator added that in some countries with unstable economies, law enforcement agencies often confiscate housing and other property from citizens. For many people living in insecure places, bitcoin becomes a mainstay, so the government cannot allow the legalization of the first cryptocurrency.
In June, Lummis, together with New York State Senator Kirsten Gillibrand, introduced a bill to regulate crypto assets, which implies their full inclusion in the US financial system. However, US Securities and Exchange Commission (SEC) Chairman Gary Gensler believes that this bill will only add confusion to the traditional finance sector.
Source: Bits
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