Politicians Endorsing (and buying) Bitcoin and Crypto Increases
US Senators are beginning to stack sats, and this is the case with Wyoming Senator Cynthia Lummis, who has recently disclosed that she has bought between 50K and 100K worth of Bitcoin. The Senator has been one of the strongest proponents of digital assets. When the infrastructure bill was going through debate, the bill that had terrible implications for crypto, Lummis was the most vocal voice on behalf on the crypto industry, putting pressure on her fellow lawmakers as the public outcry grew due to her influence.
Suggested Read: INFRASTRUCTURE BILL AND CRYPTO: WHAT YOU NEED TO KNOW
The filing, as seen below, indicates Lummis bought Bitcoin at 45k, and purchased around 50k-100k worth. Senators by law have to disclose their purchases of stocks, bonds commodities, futures and crypto within 45 days of purchasing. In late June, Lummis stated she was “excited” to buy the dip, when Bitcoin fell below 30k. She said: “I’m really excited about it because as soon as it drops a little more I’m going to buy some more.” Lummis has apparently been into Bitcoin for a long time; she has stated that she has owned Bitcoin since 2013 and owns more than 5 whole Bitcoin’s.
She understands that Bitcoin is a great store of value in the face of devalued fiat and inflation stating: “I really see it as a great store of value for individuals, for corporations, and for governments.” She mentioned that Bitcoin should be a “part of every individuals portfolio.” It cannot be understated how important it is that we have senators who understand cryptocurrency. Because it has roots in computer science and cryptography, it is far beyond the grasp of many congress-people, as they don’t come from the “internet era” like the younger generation does, and tend to be less tech savvy.
We need more tech savvy individuals in Congress if we want common sense legislation around crypto and digital assets. Bitcoin is becoming a major voting issue and priority of voters. Just this week, popular New York City mayoral candidate Andrew Yang has come out in favor of Bitcoin and crypto, indicating in tweets it will be a central part of the new political party he is forming, called the Forward Party.
Big proponent of Bitcoin and cryptocurrencies generally – and want to allow fiat prices to go down as they should as things get more efficient instead of assuming the inflation model. Learned a lot from you Jeff.
— Andrew Yang???????? (@AndrewYang) October 6, 2021
Yang is someone who understands technology, and it appears he realizes that because of how important crypto is in the face of a failing fiat system, and how that failed system could literally destroy our country, making Bitcoin the lynchpin of your political ideology is very wise. People like Senator Lummis and Andrew Yang are necessary if crypto is really going to give the banks a run for their money, because the special interests that are so insidious in our system and the revolving doors between corporate board rooms, banks and government is so present, it will be a challenge to get to the level of adoption we all wish for without people like them. However, it appears we are moving in the right direction.
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Text source: CryptosRus
