Pro-Bitcoin Senator Lummis Discloses BTC purchase of up to $100,000

October 8, 2021

Senator Cynthia Lummis of Wyoming disclosed having purchases Bitcoin worth between $50,001 and $100,000, according to a Periodic Transaction Report filing on Thursday. Lummis latest purchase, the documents show, was on August 16 via the brokerage firm River Financial.

Senators and senior staff with an income above $119,554 are obligated to disclose certain financial transactions. Under the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act), they are required to report all purchases, sales or exchanges of any stock, bond, commodities future, other securities or transaction worth over $1000.

It is no secret that the senator is an advocate of Bitcoin and blockchain technology. It was her son-in-law who taught the senator about Bitcoin’s potential as a store-of-value. She bought her first Bitcoin back in 2013 when the top cryptocurrency was trading around $300 and since then became a HODLer.

Lummis had previously called Bitcoin a “great equalizer” which can serve against the debasement of currencies. Interviewed by Marketwatch six months ago, she reiterated the unique selling point of Bitcoin, its limited supply:

“There’s only going to be 21 million Bitcoin ever created. And so you’ve got an automatic finite supply. And there are many guarantees about the manner in which Bitcoin is mined, rolled out, and can be held, that there are assurances that these values are going to hold up. And it’s going to hold up over the test of time.”

In July, she spoke out about Bitcoin mining in the United States and the opportunities it brings for the country after China banned the industry:

“We wanna make sure that these miners […] can come to places like Pennsylvania, Texas, Wyoming and elsewhere. Where they can get the energy to mine it and then once it’s produced that it can be on the blockchain in a way that enhances the non-fiat currency advantages that cryptocurrency has.”

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Author: Peter Siu

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