Cynthia Lummis: “Bitcoin will help keep savings if the state goes bankrupt”

US Senator and supporter of cryptocurrencies Cynthia Lummis said that Bitcoin will help save people from poverty if the state coffers are empty.

Bitcoin Magazine Edition
published speech by Cynthia Lummis in the Senate. She believes that bitcoin and other cryptocurrencies can help many countries, including the United States, cope with an impending crisis, or in a situation where the state runs out of money. One of the reasons Lammis has become interested in digital assets is that they are not issued by the government. Crypto assets are not related to the debt that governments accumulate, Lummis explained.

“Bitcoin is not associated with governments and political elections. It allows people to make savings that will save them if the government goes bankrupt. The country is increasing its debts without any plans to pay them off. Praise the Lord for bitcoin, which surpasses the irresponsibility of leaders of countries, including the United States, ”said Lammis.

Lammis’ words came after US President Joe Biden signed a bill on a new increase in the government debt limit by $ 480 billion by early December. Already in October, the “ceiling” of the US government debt exceeded the previously set level of $ 28 trillion. Given that Congress can legislatively set a limit on the national debt and approve its increase, the US government was forced to resort to these emergency measures until October 18 in order to prevent a default in the country and avoid the suspension of government structures.

Cynthia Lummis recently reported to the US Securities and Exchange Commission (SEC) on the purchase of bitcoin worth up to $ 100,000. A few months ago, she announced that she was holding bitcoins to ensure a dignified old age and encouraged Americans to do the same.