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Cynthia Lummis: "Bitcoin can be a salvation from rising inflation"

Senator from Wyoming Cynthia Lummis | U.S. Senator
Cynthia Lummis | U.S. Senator

U.S. Senator Cynthia Lummis expressed concerns about the national debt and rising inflation. She believes that in order to save their own funds, citizens should invest in Bitcoin. In a recent interview, Senator from Wyoming Cynthia Lummis (Cynthia Lummis) once again spoke 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 situation, people should pay attention to bitcoin if they want to save their savings from rising prices, Lummis believes.  

I see how in my home state of Wyoming people are forced to turn to food funds. They need gasoline to get to work, and they have to choose between fuel and food. The value of the dollar is falling, and now people are buying 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. It's Bitcoin, and I'm glad it exists.. 

Lammis said

The senator added that in some countries with unstable economies, law enforcement agencies often confiscate housing and other acquired property from citizens. For many people living in unsafe places, bitcoin becomes a pillar, 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 on the regulation of crypto assets, implying their full inclusion in the US financial system. However, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), believes that this bill will only confuse the traditional finance sector.

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