A United States senator known for supporting crypto spent thousands of dollars purchasing Bitcoin (BTC) during its mid-August dip.

A disclosure filing from the U.S. Securities and Exchange Commissions (SEC) shows that Republican Cynthia Lummis, the first woman from Wyoming to ever serve as a senator, spent somewhere between $50,000 and $100,000 on Bitcoin purchases on August 16th.

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Lummis previously remarked in a CNBC interview that she owns five BTC tokens, and that people should consider investing in the digital asset as a hedge against inflation.

“I encourage people to buy and hold. I encourage them to save Bitcoin for their retirement, their future.

That’s because as Congress spends trillions and trillions flooding our economy and the world economy with US dollars, there’s no way that we cannot debase the value of the US dollar.”

In June, Lummis launched the Senate’s bipartisan Financial Innovation Caucus as a way to cement Wyoming’s leadership in the realm of digital assets.

“I founded [the caucus] because Wyoming has been a leader in developing financial institutions to work with cryptocurrency.

And because Wyoming was the first state to establish a set of laws that are now being used to charter new banks in cryptocurrency and take them through the Federal Reserve process and integrate them into the traditional fiat currency world, I took an interest in this issue.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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