US Senator Cynthia Lummis Calls Bitcoin Perfect For Retirement Funds

The number one cryptocurrency by market cap, Bitcoin. (Unsplash)

JAKARTA – Two US senators, Kirsten Gillibrand and Cynthia Lummis advised American employees to include Bitcoin in their retirement plans. This was conveyed by both of them in an interview with CNBC.

Lummis himself believes that Bitcoin can be used as part of a diversified asset allocation for pension funds and stores of value. He added that the right investment strategy should be able to generate profits in the short term and prevent funds from depreciating.

Furthermore, senator Lumis stated Bitcoin is the most difficult cryptocurrency ever created. Therefore BTC is suitable for retirement plans in old age. Senator Gillibrand said the same thing and emphasized the importance of crypto money.

America itself values Bitcoin, Ethereum, and other cryptocurrencies as commodities and falls under the rules of the CFTC. Then there are other assets such as ADA and SOL whose position is somewhere between commodities and securities. Everything will be arranged by the competent supervisor.

Meanwhile, the securities themselves will be supervised by the US Securities and Exchange Commission (SEC). The SEC is currently continuing its feud with Ripple Labs, which claims to have launched an unregistered XRP token. For more than a year, the lawsuit in court is still ongoing.

On the other hand, the SEC is also reportedly investigating the developer of BNB, Binance. The investigation is aimed at finding out whether BNB is a security or not.