Topic: Senator plans to teach Congress how to use bitcoin to reduce the national debt - page 2. (Read 158 times)
December 15, 2020, 04:40:39 PM
If nothing else, someone believes the capability of bitcoin. Not many politicians are openly supporting bitcoin or crypto. Because if a person is knowledgeable how crypto works, the chance of endorsing it to his colleagues is really high. And this Senator, I think, knows how to transact btc at least.
December 15, 2020, 03:33:43 PM
An incoming Senator believes bitcoin is a better store of value than paper money and plans to teach Congress how to use it to reduce the national debt.
Senator-elect Cynthia Lummis told the What Bitcoin Did podcast that bitcoin is a better store of value than paper money and she plans to teach Congress how to use it to reduce the national debt when she assumes office in January.
"If we reach the point where we have overspent so much that things start crashing down, the black swan event occurs with any regard to any fiat currency...there is a backstop available to every government in the world and that backstop is bitcoin," Lummis said.
The senator-elect also said that bitcoin is a better store of value than paper money because the cryptocurrency's supply is finite.
Source: https://markets.businessinsider.com/currencies/news/senator-elect-cynthia-lummis-bitcoin-store-value-paper-money-congress-debt-2020-12-1029894839
Senator-elect Cynthia Lummis told the What Bitcoin Did podcast that bitcoin is a better store of value than paper money and she plans to teach Congress how to use it to reduce the national debt when she assumes office in January.
"If we reach the point where we have overspent so much that things start crashing down, the black swan event occurs with any regard to any fiat currency...there is a backstop available to every government in the world and that backstop is bitcoin," Lummis said.
The senator-elect also said that bitcoin is a better store of value than paper money because the cryptocurrency's supply is finite.
Source: https://markets.businessinsider.com/currencies/news/senator-elect-cynthia-lummis-bitcoin-store-value-paper-money-congress-debt-2020-12-1029894839
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