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“Thank God for Bitcoin”, Senator Lummis Says on US Debt Limit Raise
With United States President Joe Biden signing legislation to raise the government’s debt limit to $28.9 trillion, Senator Cynthia Lummis of Wyoming told her colleagues that Bitcoin is a divine gift.
Speaking to the Senate on Thursday, Senator Lummis shared her perspective on how digital assets like Bitcoin could help countries like the U.S. deal with a looming crisis when it is running out of cash.
— Michael Saylor (@saylor) October 15, 2021
One of the reasons she had become so interested in non-fiat digital currencies like Bitcoin, Lummis said, is that they are not issued by governments and thus aren’t beholden to the debts that are “run up by governments” such as is currently happening in the United States.
The fact that cryptocurrencies are free of governments meddling and political color, they need to grow and be there for us, allowing people to save when governments fail, Lummis said:
“Time and again, presidents of both parties have run up the debt irresponsibly, with no plan to address it. So thank God for Bitcoin, and another non-fiat currency that transcends the irresponsibility of governments, including our own.”
On Thursday, U.S. President Biden extended the country’s debt ceiling by $480 billion from the current national debt of $28.4 trillion after he signed official legislature.
Lummis is one of the most vocal cheerleaders of Bitcoin in the U.S. Senate and had earlier in the year said that crypto will bring people together as it is the “great equalizer“. The senator is a ‘hodler’ and recently revealed one of her latest purchases worth between $50,000 and $100,000.
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Author: Peter Siu