Bitcoin “can't be stopped,” says US senator from Wyoming Cynthia Lummis, urging US leaders to welcome digital gold. She suggested that Bitcoin (BTC) could solve existing financial sector problems such as inflation.
Senator Lummis said Bitcoin “can't be stopped.” She stated in an interview with journalist Natalie Brunell on September 28 that the cryptocurrency offers users an alternative to dollar devaluation due to rising public debt and inflation.
“I love that it can’t be stopped, especially because I’m concerned about our national debt, I’m concerned about inflation. I see people in my home state of Wyoming that are going to food banks now because they need fuel to get to their jobs, and they have to choose now between high-priced gasoline and food. […] We see things that are inflationary.[…] It’s actually comforting to know that Bitcoin is there,” said Lummis, according to Finbold.
Lummis is one of the leading advocates of Bitcoin who has advocated for the adoption of the cryptocurrency sector. She has introduced a comprehensive cryptocurrency regulation bill designed to provide a framework for regulating the US crypto sector. Lummis aims to educate US leaders about the qualities of Bitcoin that can benefit the economy. She also voiced her concerns about the leaders who are trying to suppress Bitcoin, saying that she will resist them.
“We believe it [Bitcoin] allows us to innovate but still provides a regulatory framework, so we will be resistant to members of the U.S. Senate and House who want to clamp down on it…There are individual leaders in our country right now, I believe that are bound and determined to do the wrong thing, and we’re going to have to get through this,” she added.
Additionally, Lummis pointed out that several politicians oppose the idea of Bitcoin because it removes an element of government control. According to the senator, the lack of control has caused some regulators to be “scared” of Bitcoin.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.