US Senator Cynthia Lummis On Bitcoin: “USA Can Be The Beneficiaries Of The CCP’s Mistake”

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Last Updated on 30 June 2021 by CryptoTips.eu

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For anyone doubting that a new cold war is growing between the USA and China, just look at the latest comment by Republican Senator (and known Bitcoin HODLer) Cynthia Lummis.

When seeing a picture of a large swath of Bitcoin mining equipment for sale on Chinese websites (after the Beijing government cracked down hard on miners), she stated:

This is why people in government need to understand digital assets. The USA can be the beneficiaries of the CCP’s mistake (but we must be careful not to make equally stupid mistakes in our handling of financial innovation.)

Do note that reference is made to the CCP or the Chinese Communist Party given that Lummis is a staunch Republican keen on highlighting the trade war with China and therefore always refers to the Chinese government with the denominator communist in order to please her own voters.

Lummis is a known Bitcoin investor since 2013 and adores the milestones reached by her home state Wyoming in its cryptocurrency uptake. She has publicly vowed to defend cryptocurrency against centralization attempts from the Federal Reserve. US media delights in the fact that she is an elderly politician with a knack for Bitcoin.

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Buy the dip

Just last week, the Republican Senator had already re-confirmed her long term prospects for Bitcoin.

Appearing on Fox News with Stewart Varney, she was asked what her thoughts were know that Bitcoin had dropped to $29,000. Senator Lummis immediately confirmed she would be buying the dip.

She added:

We need a level playing field. Any regulation of Bitcoin needs to be less restrictive as we need to encourage innovation in this space.

mmaxer / Depositphotos.com