Hardline Hodl! US Senator Invites People To Buy Bitcoin And Save Until Old Age

Cynthia Lummis invites the public to buy Bitcoin for savings in old age (CoinTimes)

JAKARTA – United States (US) Senator, Cynthia Lummis showed her attitude towards Bitcoin. Lummis invites the public to buy and save it for retirement.

Launching Bitcoin News, Cynthia Lummis made this statement at an event titled CNBC Financial Advisor Summit some time ago. He responded to a question regarding the future of crypto.

“I would like to see cryptocurrencies, like Bitcoin, become part of a diversified asset allocation used in retirement funds and other opportunities for people to save in the future,” the US senator said.

In addition, Lummis also added that pension funds can also be invested in Bitcoin and other cryptocurrencies because cryptocurrencies are “a good store of value.”

The Wyoming senator also said he "want to see individuals able to safely use Bitcoin and their cryptocurrency of choice, which complies with the anti-money laundering and Bank Secrecy Act (BSA)."

Lummis calls Bitcoin a good store of value. He also claimed to have bought Bitcoin and would save it for retirement.

“For me, I see bitcoin as a great store of value. I buy bitcoins and I keep bitcoins.”

When Lummis was asked how many Bitcoins he had, he replied “I think I only have five Bitcoins.” He admitted to buying BTC at a price of 330 US dollars (equivalent to Rp. 4,771,651).

Lummis also admitted that he only invested in one cryptocurrency, namely Bitcoin. He added that Bitcoin is the only cryptocurrency he understands.

“The only thing I really understand is bitcoin. It's not that ethereum doesn't have benefits either," the US senator said.

However, Lummis said that currently cryptocurrencies are not suitable to be used as a medium of exchange.

“I want to buy and hold. I encourage people to buy and hold. I encourage them to save bitcoins for their retirement, for their future.”

Asked about the possibility of US dollar inflation in the future, Lummis is worried about pensions denominated in US dollars.

“Congress has spent trillions and trillions of dollars, and flooded our economy and the world economy with US dollars, there is no way we can not devalue the US dollar. So I'm worried that all of our pensions are denominated in US dollars."

In addition, Lummis also emphasized the importance of having a diversified portfolio. This allows one to own multiple assets and not keep “all the eggs in one basket.”

"So as part of diversification, having a very diverse asset allocation, so you don't keep all your eggs in one basket, I think one of the strongest stores of value for the long term is bitcoin," said Cynthia Lummis.