2 minutes reading time (406 words)

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

Monday, 03 October 2022

Investing in Bitcoin: Senator Cynthia Lummis' Solution to Rising Inflation and National Debt

U.S. Senator Cynthia Lummis from Wyoming has recently expressed her concern about the national debt and rising inflation. In her opinion, Bitcoin may be the solution to this issue. She firmly believes that citizens should invest in Bitcoin to save their own funds from the increasing prices of goods and services.

Bitcoin's main advantage is its decentralization, making it impossible for governments to confiscate it. Lummis believes that this makes it an ideal asset to protect savings from rising prices. In the current economic situation, people need to pay attention to Bitcoin to secure their finances.

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

Senator Lummis has witnessed firsthand how inflation is affecting people's lives in her home state of Wyoming. People are forced to rely on food banks, and they have to choose between buying gasoline for transportation or food. The dollar's value is decreasing, and people can now buy only half the amount of food they could before with the same amount of money. Investing in assets that will exist in the long term, like Bitcoin, makes perfect sense.

Bitcoin has also become a pillar for people living in unstable countries with confiscatory law enforcement agencies. Lummis believes that the government cannot allow the legalization of the first cryptocurrency, as it will threaten their control.

In June, Senator Lummis and New York State Senator Kirsten Gillibrand introduced a bill that aims to regulate crypto assets and fully integrate them into the US financial system. However, Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), thinks that this bill will only create confusion in the traditional finance sector.

In conclusion, Bitcoin may be the solution to rising inflation and national debt. Senator Lummis advocates for investing in Bitcoin to protect savings from the increasing prices of goods and services. With its decentralization, Bitcoin is an ideal asset for long-term investment.