Senator Cynthia Lummis Advocates for Bitcoin Reserves to Strengthen US Dollar
Cynthia Lummis stated that Bitcoin can save the United States (US) sovereign fiat currency, the US dollar.
Cynthia Lummis, a 69-year-old U.S. Senator from Wyoming, is known for her strong advocacy for Bitcoin. She views Bitcoin as a reliable store of value and a hedge against inflation, promoting its potential to revolutionize the financial system. As a member of the Senate Banking Committee, Lummis supports creating a regulatory environment that encourages innovation in the cryptocurrency sector while protecting consumers.
On 12 July 2024, In an interview, Cynthia Lummis emphasized that having Bitcoin in reserve could help maintain the strength of the US dollar. She also expressed the importance of individuals having their own Bitcoin wallets to ensure they have sovereignty over their own money.
Lummis believes that Bitcoin can serve as a reliable store of value and a hedge against inflation, potentially revolutionizing the financial system. As a member of the Senate Banking Committee, she advocates for a regulatory environment that encourages cryptocurrency innovation while protecting consumers.
The popular Bitcoin advocate also opposed the idea of a retail Central Bank Digital Currency (CBDC); instead, she supported the use of self-custody Bitcoin wallets.
Cynthia Lummis has been a strong advocate for individual financial freedom for many years. She has consistently pushed for clear regulations from the SEC to protect the cryptocurrency sector. Despite the SEC’s strict actions against crypto, Lummis remains committed to supporting Bitcoin and promoting policies that ensure financial independence and innovation. Her dedication to creating a favorable regulatory environment highlights her significant role in the Bitcoin sector.
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The current trade price is of Bitcoin is $57,708 & this price level is 15% down over the last 30 days period. In the last 24 hours, price surged nearly 1%.
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