The news doing the rounds is about US Senate Candidate being a Hodler who looks at Bitcoin as an alternative store of value. Cynthia Lummis is pro-bitcoin according to a publication.
For those who do not know, Cynthia Lummis is a conservative Republican in the US House of Representative for over eight years, now running for the US senate with the endorsement of President Donald Trump.
Reportedly, Lummis has purchased her first Bitcoin in 2013, as it convinced her search for a good store of value. She also stated that she believed in the economic power of scarcity and the potential for the bitcoin to deal with some of the manipulations in the system. She has mentioned that she wanted to hold Bitcoin just like Gold as she wanted to reserve the relative value of her labor.
Lummis has reportedly stated, “I have long worried about the Federal Reserve’s program of quantitative easing and the amount of debt on which our nation’s economy’s future rests.”
The dollar according to several economists is ceasing to be the reserve currency.
Sydney Ifergan, the crypto expert tweeted: “Bitcoin (BTC) is becoming the favorite of policy makers and I am surprised by how several government personnel are already holding it for too long.”
Nigel Green recently stated to how young people are willing to accept Bitcoin when compared to old people. However, he points to how there is more acceptance from people for Bitcoin with the passage of time.
Nigel Green, CEO of Devere Group stated, “If you are flooding the market with extra dollars, then in fact you are devaluing [money]. The advantage of bitcoin is that there is a limited amount. Some people would rather a computer keep score, and some people would not have faith in their government and they would rather have something where there’s a limited amount.”
During the CoVid it is becoming increasingly evident about how people are taking to crypto and the concept of Bitcoin.
Green recalled that there was a particular generation that trusted in Gold and that a particular generation is beginning to trust in Bitcoin. He also pointed to how it is easy to store precious metals when compared to digital currencies. He felt it was practical to load crypto assets on to the telephone than to carry gold or storing it.
Very evident that Bitcoin is finding increased interest from youth willing to hold it.
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