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IPFS News Link • Economy - Economics USA

US Senator's Advice: Buy, Hold, Save Bitcoin for Retirement as Congress Floods...

•, by Kevin Helms

U.S. Senator Cynthia Lummis has encouraged "people to buy and hold" bitcoin in their portfolios. "I encourage them to save bitcoin for their retirement, for their future," she said, adding that with Congress flooding the economy with trillions and trillions of dollars, "there's no way" the value of the U.S. dollar will not be debased.

US Senator Urges People to Invest in Bitcoin for Retirement

U.S. Senator Cynthia Lummis talked about bitcoin in an interview at the CNBC Financial Advisor Summit Tuesday. Responding to the question of what her ideal crypto future would look like, the pro-bitcoin senator described:

I would like to see cryptocurrency, like bitcoin, become part of a diversified asset allocation that are used in retirement funds and other opportunities for people to save for the future.

Not only she would like to see retirement funds investing in "bitcoin and other cryptocurrencies that are good stores of value," the senator from Wyoming said that she would "also like to see individuals be able to use bitcoin and cryptocurrencies of their preference that are safe, that have met the hurdles of anti-money laundering and Bank Secrecy Act."

Senator Lummis further shared: "For me, I see bitcoin as a great store of value. I buy bitcoin and I hold bitcoin."

When asked about how much bitcoin she has, Lummis replied, "Well I only have, I think, five bitcoin," adding that she paid $330 for her first BTC.

Responding to a question about whether she invests in other cryptocurrencies, like ether, Lummis said she does not. "The only one I really understand is bitcoin. Now that doesn't mean that ethereum might not have benefits as well," the senator clarified.