Senator Cynthia Lummis Sees Bitcoin (BTC) as a Retirement Plan



Bitcoin (BTC) advocate Senator Cynthia Lummis wants Americans to see cryptocurrency as a way to diversify their retirement and long-term savings. He himself sees Bitcoin the same way.

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In a new interview with CNBC, Senator Lummis explained that he owns about 5 Bitcoins, adding that he bought Bitcoin for the first time when it was worth $ 330.

Lummis also stated that he encourages people to buy Bitcoin and wait so they can save money.

“I’m concerned that all of our pension money is in US dollars. I think it’s important to have a very diverse asset distribution as part of diversification. I think in the long run Bitcoin is one of the strongest stores of value.”

Lummis said that the only cryptocurrency he really understands for now is Bitcoin, and therefore he also explained that it is the only cryptocurrency in his portfolio. However, he said that Ethereum (ETH) can also have benefits, emphasizing that its support does not mean that Bitcoin is the only useful crypto.

The Senator hopes to help move regulation through efforts like the Financial Innovation Group he recently created.

“Even if you are an employee with a pension fund, I would love to see pension funds invested in Bitcoin and other cryptocurrencies that are good stores of value. However, I would also like to see individuals using Bitcoin.”

The Senator also stressed the need to build crypto-related public infrastructure like the digital dollar.

“We don’t want to overregulate conventional banking and non-fiat currency banking. Because we want them to have an equal area”