The awareness about Bitcoin is increasing. When Senator Elect Cynthia M Lummis was asked by FoxNews about her top priorities she stated that she is planning to work on several issues related to dealing with their debts and deficits. She stated that she is planning to explain to her colleagues about Bitcoin. She stated that she wanted to make sure that everybody understands that it is a great store of value.
She felt that Bitcoin is something Americans can use to diversify their assets, and to make sure that they have assets that don’t have inflation built in to them, just the way the US Dollar does.
In this regard, Sydney Ifergan, the crypto expert tweeted, “It is good to see that leaders like Senator Elect Cynthia M Lummis approve of Bitcoin.”
Bitcoin (BTC) Advantage of Scarcity
In a Bitcoin podcast, Cynthia Lummis stated she is set to explore How Bitcoin can help with fiscal responsibility. How Bitcoin can help pensions. How Bitcoin can help the energy sector. How Bitcoin embodies the ideals America was founded on. The work Wyoming has done to welcome Bitcoin innovators.
The Senator Elect stated that the Bitcoin has the advantage of scarcity as there is only going to be only 21 million Bitcoin every mined. So, she says that it is very clear that it has inherent stability.
She stated that she is considering in taking minerals from the ground, and then investing the proceeds of that so you are still keeping a very stable investment – She establishes an analogy stating it is a little bit like mining Bitcoin. She says that is a part of the attraction to Bitcoin.
She recollected how she got educated about Bitcoin by her son in law and her grandson about the merits of Bitcoin. She reasoned out how she has been state treasurer and has been investing funds and was therefore able to resonate with the Bitcoin concept.
She pointed to how at the congress, they were spending like there were no tomorrow and did not have a plan for retiring the debt, which in turn caused her to get more interested in Bitcoin.
She pointed to the international picture on how China has digitized the Yuan and on how the USD is not yet digitized. She stated that the US wants the USD to be the world’s reserve currency, but on how their policies are not keeping up with the international appetite.
She agrees that Bitcoin is form of standard platform for non-fiat currency that has all of the benefits that the fiat currencies don’t. So, Bitcoin seems really decoupled in a positive way from some of the traps of fiat currency.