Thursday, March 30, 2023
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Bitcoin Is ‘Comforting’ And ‘Can’t Be Stopped,’ U.S. Senator Says

by Christian Encila
September 29, 2022
in Cryptocurrency
Reading Time: 2 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


Bitcoin has its back covered by this American senator who believes in the potential of the crypto to bring good things to the U.S. financial sector and economy in general.

Senator Cynthia Lummis may be the most prominent champion for the crypto sector in Congress. Her strong support for the cryptocurrency industry distinguishes her from her counterparts.

During an interview on Hard Money with investigative journalist Natalie Brunell on Wednesday, Lummis did not mince words and said Bitcoin “can’t be stopped,” after Brunell pointed out that many still don’t understand how the crypto works and how it is actually a “powerful tool” in changing people’s lives.

“I love that it can’t be stopped, especially because I’m concerned about our national debt, I’m concerned about inflation… We see things that are inflationary… It’s actually comforting to know that Bitcoin is there,” the senator said.

Bitcoin: An Attractive Hedge Against Inflation

Lummis stated in 2021 that the concept of Bitcoin as an inflation hedge, an asset that can sustain its value independently of the U.S. currency or the global economy, is enticing.

Wyoming’s Republican senator has an impressive resume in cryptocurrency and topics such as privacy rights, and she also has a large quantity of BTC.

The lawmaker has been one of the most prominent Bitcoin advocates lobbying for the sector’s adoption. Lummis submitted a bill that would require the U.S. government to treat distributed ledger technology as a growing breakthrough on par with artificial intelligence and biotechnology, among other initiatives.

Lummis, Other Senators Team Up For Crypto 

“As people learn more about Bitcoin and become comfortable and familiar with an asset that is online they’ll begin to see it as … behind them and they’ll have it for their long-term savings and long-term future,” the senator said.

Lummis is collaborating with Arizona Sen. Kyrsten Sinema (D), co-founder of the Financial Innovation Caucus, and other lawmakers on a proposed measure, and she expects to attract other legislators by 2023 when she proposes portions of the plan to Congress.

Lummis first purchased Bitcoin in 2013 for approximately $320. She stated at the time that she had “never sold” her cryptocurrency, the value of which approached $70,000 earlier this year. Since then, she has not changed her perspective on Bitcoin as an asset class.

Senator’s Top Priority: Crypto Education

According to public documents, Lummis possesses between $100,000 and $350,000 in BTC, and she recently acquired more this summer.

Meanwhile, the senator disclosed that education is her top crypto priority now. While there is a need for legislation that offers a clear legal framework, the biggest barrier may be educating lawmakers about Bitcoin and how the asset class and its underlying technology might help transform the current financial system.

BTCUSD pair trading at $19,370 on the daily chart | Source: TradingView.com

Featured image from Finbold, Chart: TradingView.com



Source link

Tags: BitcoinComfortingSenatorstopped
Previous Post

I’m not a ‘mega deal’ maker By Reuters

Next Post

Host Hotels & Resorts: Encouraging RevPAR Rebound (NASDAQ:HST)

Related Posts

Terra Luna Classic Network Upgrade; Joint L1 Task Force Q2 Plan

by Varinder Singh
March 30, 2023
0

Terra Luna Classic core developer group Joint L1 Task Force submitted their plan and budget for Q2. The developer group...

Policymakers struggle to rein in sticky core inflation

by James Van Straten
March 30, 2023
0

Quick Take Core inflation is the change in the cost of goods and services that do not include sectors such...

OKX Moves $157M Frozen Assets Linked to FTX, Alameda

by Damian Chmiel
March 30, 2023
0

OKX, the second-biggest crypto trading platform by trading volume, has recently announced that it is preparing to transfer $157 million...

Elon Musk and tech execs call for ‘pause’ on AI development

by Euro Times
March 30, 2023
0

More than 2,600 tech leaders and researchers have signed an open letter urging for a temporary “pause” on further artificial...

Bitcoin BTC Price Rises Over $28.3K Despite Binance Legal Woes

by Jocelyn Yang, Shaurya Malwa
March 30, 2023
0

Bitcoin (BTC) has added almost 72% to $28,500 this year, its best quarterly gain in two years, CoinDesk data shows....

Sam Bankman-Fried is paying for legal defense using previously gifted funds from Alameda: Report By Cointelegraph

by Cointelegraph
March 30, 2023
0

Former FTX chief executive officer Sam Bankman-Fried, also known as SBF, is reportedly funding the legal team defending him against...

Next Post

Host Hotels & Resorts: Encouraging RevPAR Rebound (NASDAQ:HST)

Economists now accept exchange-rate intervention can work

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

BLOODY HORROR: Bystanders Videotape Father Stabbed to Death Inside Starbucks in Front of 3-Yr-Old Daughter For Asking Attacker to Stop Vaping Near His Child

March 30, 2023

Syrah Resources breaks production record, says U.S. anode plant on track (OTCMKTS:SYAAF)

March 30, 2023

Wall St opens higher as bank fears fade, focus on inflation data By Reuters

March 30, 2023

Terra Luna Classic Network Upgrade; Joint L1 Task Force Q2 Plan

March 30, 2023

Microsoft Defender flagged legit URLs as malicious

March 30, 2023

Constellation Brands taps Tastemade to help draw new customers

March 30, 2023
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

BLOODY HORROR: Bystanders Videotape Father Stabbed to Death Inside Starbucks in Front of 3-Yr-Old Daughter For Asking Attacker to Stop Vaping Near His Child

Syrah Resources breaks production record, says U.S. anode plant on track (OTCMKTS:SYAAF)

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In