U.S. Senator from Wyoming Cynthia Lummis Invites Bitcoin Miners

By Bhushan Akolkar
Published July 3, 2021 Updated July 3, 2021
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U.S. Senator from Wyoming Cynthia Lummis Invites Bitcoin Miners

By Bhushan Akolkar
Published July 3, 2021 Updated July 3, 2021

Amid the ongoing crackdown in China, a lot of Bitcoin miners are shifting base to the U.S. The Republican U.S. Senator of Wyoming – Cynthia Lummis – has recently invited Bitcoin miners. The Senator tweeted: “If you are in the #Bitcoin mining space, please reach out. We WANT you in Wyoming”.

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The Senator’s tweet arrived later on Friday, July 2. Cynthia Lummis has been recently vocal about her support for Bitcoin and the overall crypto space. Last week, Lummis urged people to buy Bitcoin and save it as part of the retirement plan.

Lummis has been open in her views saying that BTC allows investors to diversify their assets amid concerns of the declining value of the U.S. Dollar. In a series of tweets, the Wyoming Senator said;

“I believe USD should and will continue to be the world’s reserve currency. BUT spending like drunken sailors is not serving the American people, or the value of USD, well.

I believe financial innovation offers an egalitarian opportunity for hardworking Americans to store the value generated by the sweat of their brows. Preservation of capital should not be reserved for the wealthy will Wall Street connections. Government shouldn’t be able to debase your ‘store of value’.

Senator Lummis – Retirement Funds Should Have exposure to BTC

The Wyoming Senator revealed that she has already purchased $100,000 worth of BTC and would continue to buy more and save. Lummis also expressed her views about how retirements funds should have exposure to BTC. In an interview with CNBC’s Ylan Mui, the Wyoming Senator said:

“I would like to see cryptocurrency, like Bitcoin, become part of a diversified asset allocation that are used in retirement funds and other opportunities for people to save for the future. So whether you’re an employee that has a retirement fund – I’d like to see those retirement funds invested in bitcoin and other cryptocurrencies that are good stores of value”.

Besides, Lummis also advocated the use of crypto in daily life.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan Akolkar
731 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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