US Senator Cynthia Lummis criticized Hillary Clinton for her latest remarks about Bitcoin and crypto.
Earlier, during the Bloomberg New Economy Forum, the former first lady, Secretary of State in the Barack Obama administration, and participant in the 2016 presidential race, Hillary Clinton said crypto could devastate many country economies and undermine the dollar as the world’s reserve currency.
As an active supporter of bitcoin and crypto, Cynthia Lummi came forward to reply to Clinton that Bitcoin is a digital gold that can be a help dollar against inflation and stabilize USD.
She said:
“Great leaders do not fear the future. America could win the future by embracing Bitcoin as hard money that can be used to stabilize USD and undo the tailspin begun in 1971.”
Great leaders do not fear the future. America could win the future by embracing Bitcoin as hard money that can be used to stabilize USD and undo the tailspin begun in 1971. https://t.co/cMkMGLwMWx
— Cynthia Lummis ? (@CynthiaMLummis) November 20, 2021
She did not elaborate on how the BTC could stabilize the dollar but did mention 1971. In 1971 US President Richard Nixon completely abolished the gold standard, transferring control of the money supply to the Fed. This made the economy more exposed to inflation by allowing the printing of unlimited money.
Perhaps Lummis believes that digital gold (BTC) can now act as collateral for the dollar.
In October, the senator said bitcoin and other “non-fiat currencies” could potentially help Americans and foreigners cope with the looming economic crisis.
In August, the politician increased her investments in the first cryptocurrency. Lummis first invested in BTC in 2013.
Recall that after the election, the senator promised to bring the discussion of bitcoin to the national level and called for a part of pension savings to be transferred to an asset.
Read More from Cynthia Lummis:
- The Bitcoin Senator, Cynthia Lummis Invites Bitcoin Miners Says Don’t Judge Bitcoin Mining As Energy Bad
- The Bitcoin Senator, Cynthia Lummis: Bitcoin Is Great For Retirement And Long-Term Savings
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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