Fun

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

News Feed - 2022-10-03 12:10:18

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


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCFTC Chairman on US Crypto Regulation: We Have to Rely on 70-Year-Old Case Law to Determine What’s a Security or Commodity Next articleJapanese Gaming Giant Sega to Launch First Blockchain Game Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework


Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

News Feed

Bitcoin Price Outlook for March
Bitcoin Price Outlook for March There are only ten days into March, and volatility in the crypto markets has heightened, with both bitcoin and ethereum falling to two-month lows. A
Bitcoin Price Following Analyst’s Prediction For Bullish Breakout, Here’s The Target
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitfinex Doesn’t Have to Compile Documents During Appeal, Judge Says
A New York judge has rejected a New York Attorney General’s office request to have Bitfinex and Tether collect all documents pertaining to an alleged $850 million cover-up and $900 million line of credit.
Bitcoin price falls to 2-month low, but derivatives markets reflect traders’ interest
Marcel Pechman2 hours agoBitcoin price falls to 2-month low, but derivatives markets reflect traders’ interestBitcoin price is pinned below $60,000, but derivatives and stablecoin data show traders remain optimistic.17
‘AI Tools Will Provide Very Interesting Enhancements for the Metaverse’ — Upland Co-Founder
"AI Tools Will Provide Very Interesting Enhancements for the Metaverse" — Upland Co-Founder According to Dirk Lueth, co-founder of the Upland Metaverse, the colonization of the m
Crypto Exchange Binance Blacklisted by Russia’s Telecom Censorship Agency
Crypto Exchange Binance Blacklisted by Russia"s Telecom Censorship AgencyRussia’s telecom regulator Roskomnadzor has added Binance, the world’s largest crypto exchange,
German, US gov‘ts move $150M in crypto
Josh O"Sullivan14 hours agoGerman, US gov‘ts move $150M in cryptoThe German and U.S. governments make strategic moves with significant Bitcoin and Ethereum transfers, drawing market attention.4576 Total views6 Total sh
Bitcoin price reclaims $70K as Coinbase BTC supply hits 9-year low
Zoltan Vardai6 hours agoBitcoin price reclaims $70K as Coinbase BTC supply hits 9-year lowBitcoin supply on cryptocurrency exchange Coinbase has reached a nine-year low as BTC accumulation resumes to push price back abov
Bitcoin Crashes After $94K Surge—Key Market Signals Reveal What’s Coming Next
Este artículo también está disponible en español. Bitcoin’s recent price movements have reflected a mix of optimism and uncertainty for investors. Earlier this week, Bi
Toncoin Sharpe Ratio Is Falling: What It Means And — Is It Time To Buy?
Este artículo también está disponible en español. Toncoin, which is one of the best-performing cryptocurrencies in 2024, has also been affected in recent months by the wi
Turner Wright4 hours agoAppellate judge denies Sam Bankman-Fried’s request for immediate release from jailThe motion from Sam Bankman-Fried’s lawyers will now go to a three-judge panel, with less than four weeks befo
Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings
Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and prot