US Senator Says ‘I Love That Bitcoin Can’t Be Stopped’ Citing Concerns About National Debt and Inflation

US Senator Says "I Love That Bitcoin Can"t Be Stopped" Citing Concerns About National Debt and Inflation

U.S. Senator Cynthia Lummis says she loves that bitcoin cannot be stopped and that governments cannot just confiscate the cryptocurrency. “It’s actually comforting to know that bitcoin is there,” she said, citing concerns about the national debt and inflation. U.S. Senator: Bitcoin Is Something Governments Cannot Take

U.S. Senator Cynthia Lummis (R-WY) talked about bitcoin in an interview with Hard Money’s Natalie Brunell, published last week.

Discussing the merits of bitcoin, including how the cryptocurrency cannot be stopped, the senator from Wyoming said: I love that it can’t be stopped especially because I’m concerned about our national debt. I’m concerned about inflation.

She continued: “I see people in my home state of Wyoming that are going to food banks now because they need fuel, they need gasoline, to get to their jobs, and they have to choose now between high-priced gasoline and food so they are going to food banks for their food.”

The senator further detailed: “So when we see things that are inflationary, when we see the value of a dollar drop when you go to the grocery store and you come out with one sack of food and used to for the same price come out with two, we really need to look at assets that are going to be there for the long term.” She noted: That’s why to me it’s actually comforting to know that bitcoin is there.

She further explained that in some countries where the government is unstable, it can come to take people’s homes and property. The senator stressed: Bitcoin is something the government cannot take.

“For people in foreign countries that are living in places that are very insecure, that is definitely a backstop and something that they can comfortably go to bed at night and know it’s going to be there in the morning,” the senator opined.

The senator from Wyoming introduced a crypto bill titled “Lummis-Gillibrand Responsible Financial Innovation Act” in June with Senator Kirsten Gillibrand (D-NY).

Providing an update on the bill, Lummis described, “this is a very comprehensive piece of legislation, probably too comprehensive given the time remaining in 2022 for the bill to pass.” She added: “But what that does is give us more time to get more input on the bill, and we want to embrace that. We want people to provide additional input and ideas and thoughts.” Tags in this story senator cynthia lummis, Senator Cynthia Lummis bitcoin, Senator Cynthia Lummis crypto, Senator Cynthia Lummis cryptocurrency, us senator

What do you think about the comments by Senator Cynthia Lummis? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. CFTC Chairman on US Crypto Regulation: We Have to Rely on 70-Year-Old Case Law to Determine What"s a Security or Commodity REGULATION | 7 hours ago UK Regulator: Crypto Firms Undeterred by Strict Regulation — "They Know We Have a Good System" REGULATION | 20 hours ago

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