US Senator Cynthia Lummis: Bitcoin will save many countries from poverty

According to the supporter of cryptocurrency, they will be useful when states run out of money

16.10.2021 - 09:35

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2 min

What's new? US Senator and bitcoin supporter Cynthia Lammis believes that the first cryptocurrency and other virtual assets can help many countries. They will be useful in a situation when the state runs out of money. Lammis stated this during a speech in the Senate.

"Thank God for #Bitcoin." — Cynthia Lummis to US Senate 👏pic.twitter.com/L8XXoeCjVE— Bitcoin Magazine (@BitcoinMagazine) October 14, 2021

How did the senator explain her position? According to Lammis, the key advantage of bitcoin and other cryptocurrencies is that they are not associated with governments. They have nothing to do with the debts that the states accumulate, the politician added.

“It allows people to make savings that will save them if the government goes bankrupt. The country is increasing its debts without any plans to pay them off. Praise the Lord for bitcoin, which surpasses the irresponsibility of leaders of countries, including the United States,” Lammis stressed.

What is known about Lammis? As we mentioned in early October, the senator reported on buying BTC in August 2021 in the amount of $50 000 to $100 000. Under the Congressional Knowledge Trading Termination Act of 2012, its members are required to disclose information about transactions with financial instruments worth more than $1000 within 45 days.

It is known that the senator first invested in bitcoin in 2013. At the end of June, according to CNBC, Lammis had 5 BTC.

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