Republican Senator Sees Bitcoin Serving as Functions of Money
In an interview with Good Morning America TV show on November 13, U.S Senator Cynthia Lummis has once again publicly shown her support for Bitcoin, sharing her views about the cryptocurrency’s growing interest, representing the future of money and global finance. The GMA television show presenters spoke to the newly elected Senator after the U.S elections. Lummis said that Bitcoin’s success legitimizes it as money and a store of value. She talked about her Bitcoin holdings and said that she intends to bring the cryptocurrency to the U.S Senate discussions.
She stated: “I Do Hope to Bring Bitcoin into The National Conversation. I’m a former state treasurer and I invested our state’s permanent funds, so I was always looking for a good store of value, and Bitcoin fits that bill. Our own currency inflates; Bitcoin does not. It’s 21 million Bitcoin will be mined, and that’s it, it is a finite supply. So, I have confidence that this will be an important player in store of value for a long time to come.”
Furthermore, Lummis refuted ABC daytime talk show host Sara Haines’ claims that Bitcoin could be used for money laundering and tax evasion activities.
Her remarks on the interview were supported by the Twitter crypto community. Tyler Winklevoss retweeted the clip that “Watch US. Senator Cynthia Lummis extol the virtues of Bitcoin as a store of value.”
However, the GMA presenters asked Lummis to comment on President Trump’s refusal to concede the 2020 presidency and electoral fraud claims. She said that an election recount was necessary saying that President Trump should not concede to Biden. She stated: “The integrity of this election needs to be verified,”
Republican officials claim that widespread voter fraud marred election results.
Investors Remain Confident in Bitcoin
Lummis, a Republican, becomes the first woman to win the U.S senate seat in Wyoming state after defeating Democrat Merav Ben-David on November 3. She purchased her first Bitcoin in 2013 because he believes in the economic power of scarcity and the potential of Bitcoin to serve as an inflation hedge and fix some of the manipulations within the financial system. She would be the first Member of Congress’s Upper House to own cryptocurrency in the Senate.
While Lummis is bullish on cryptocurrency, several institutional investors have demonstrated an increasingly interest in investing in the asset class. Fidelity Digital Asset’s survey recently indicated that about 80% of institutional investors in the U.S and Europe have found cryptocurrency appealing, while 60% of them feel that cryptocurrencies should be part of their portfolios.
Galaxy Digital CEO Mike Novogratz, Virgin Galactic chairman Chamath Palihapitiya, and Well-known hedge fund manager Paul Tudor Jones are some of the billionaire investors who have invested in Bitcoin.