In a December 14 episode of the podcast What Bitcoin Did, Cynthia Lummis, the first-ever woman Senator elected from Wyoming, promised to promote Bitcoin in Congress.
Lummis, who will join the U.S. Senate on January 3 2021, said that one of her top priorities is to make Bitcoin more visible in Congress’s upper chamber.
The long-term Bitcoin bull who hails from the crypto-friendly state of Wyoming plans to become a leader in policy toward Bitcoin during her stay in Washington.
She also revealed plans to hold discussions with other senators to educate them about the difference between fiat and cryptocurrencies.
Lummis expressed her disappointment with the current money printing by global governments, which has diminished the value of the U.S. Dollar. According to the newly-elected Senator, Bitcoin can offer a way to get out of the U.S. debt and ameliorate the dollar’s buying power.
Bitcoin Provides a More Stable Value
During her podcast, Lummis highlighted the “terribly frustrating” notion of having to use a U.S. dollar that has constantly eroding value.
She added that inflation is built into the Federal Reserve’s plan for the dollar, which is why the people’s buying power is eroded. This gradual loss of value mainly affects people in retirement hoping to live off their savings.
The senator-elect argued that this would not be the case with BTC as it offers a more stable value to investors:
“Bitcoin provides a more stable value to people who are either saving now to live comfortably in the future but also people who are on fixed income or approaching fixed income now.”
The U.S. dollar’s standing as the world’s de facto reserve currency is arguably coming to an end, and Lummis believes that BTC will rise as a viable alternative store of value.
The new senator will use her time in Congress to educate her colleagues about crypto, which she believes is vital in combating misconceptions and fears plaguing the digital asset sector.
Lummis is a Long-Term BTC Enthusiast
The new U.S.representative for the state of Wyoming has long been a Bitcoin bull who made her first purchase of BTC in 2013.
Since then, the senator said that she has never sold her coin holdings, adding that she is still intrigued by the asset’s decentralized public ledger and fixed supply.
Lummis’s new initiative to educate members of Congress about BTC could help drive the adoption of crypto among Congressional candidates.
The senator will be hiring Tyler Lindholm, a member of the Wyoming House of Representatives, to join her team as Policy Director. Lindholm is a well-known Bitcoin supporter who has introduced several regulatory initiatives in his home state to boost digital assets’ growth.
