US Senator Cynthia Lummis to Ensure Congress Understands Bitcoin Is a 'Great Store of Value' – News Bitcoin News


US Senator Cynthia Lummis to Ensure Congress Understands Bitcoin Is a 'Great Store of Value'

Bitcoiner Cynthia Lummis has been elected to the U.S. Senate. She has revealed that one of her priorities is to explain to her colleagues in Congress about bitcoin being “a great store of value.”

Cynthia Lummis Plans to Convince Congress That Bitcoin Is a Great Store of Value

Cynthia Lummis has been elected to represent the state of Wyoming in the U.S. Senate, making history as the first woman to do so. She previously served in the U.S. House of Representatives for eight years as a Wyoming conservative Republican.

In an interview with Fox News on Tuesday, Lummis was asked: “What do you plan on doing? What are your top priorities?” She explained that she plans “to work on several issues, including matters to try to reduce our [national] debt and our deficit.” The Senator-elect elaborated:

I also plan to explain to my colleagues about bitcoin. I know there isn’t much known about bitcoin especially in Congress. So I want to make sure everybody understands that this is a great store of value.

“It’s something that Americans can use to diversify their assets and to make sure that they have assets that don’t have inflation built into them the way the U.S. dollar does,” Lummis opined.

Lummis purchased her first BTC in 2013 and she is now a hodler. “I was struck by how innovative bitcoin is with its decentralized public ledger and a fixed supply,” she previously said. “Bitcoin to me has shown great promise and may rise as a viable alternative store of value to the U.S. dollar both on the institutional level and the personal level.”

Recently, there was an initiative to educate members of Congress on cryptocurrency. The “Crypto for Congress” initiative, launched in October by the Chamber of Digital Commerce, provided a $50 bitcoin contribution to all 535 members of Congress. The aim was to expand “the use and adoption of cryptocurrencies among Congressional candidates, elected leaders, and engaged citizens,” the chamber detailed.

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Do you think Cynthia Lummis will succeed in educating Congress about bitcoin? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Cynthia Lummis

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