Buy, hold, and save Bitcoin for retirement as Congress floods economy with billions of dollars

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US Senator Cynthia Lummis encouraged “people to buy and hold” bitcoin in their wallets. “I encourage them to save bitcoin for their retirement, for their future,” she said, adding that with Congress flooding the economy with billions and billions of dollars, “there’s no way “that the value of the US dollar is not degraded.

US Senator urges people to invest in Bitcoin for retirement

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

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

Not only would she like to see retirement funds invest in “bitcoin and other cryptocurrencies that are good stores of value,” the Wyoming senator said she “would also like individuals to be able to use bitcoin and the cryptocurrencies of their preference that are secure, that have encountered the obstacles of the fight against money laundering and the law on banking secrecy.

Senator Lummis added, “For me, I see bitcoin as a great store of value. I buy bitcoin and hold bitcoin.

When asked how many bitcoins she had, Lummis replied, “Well, I only have five bitcoins I think,” adding that she paid $ 330 for her first BTC.

Responding to a question about whether she invests in other cryptocurrencies, such as Ether, Lummis said no. “The only one that I really understand is bitcoin. Now, that does not mean that Ethereum might not have advantages as well, ”said the senator.

Reiterating that she sees bitcoin as “a great store of value”, the senator said she does not currently see cryptocurrency “as a medium of exchange”, adding:

I want to buy and keep. I encourage people to buy and keep. I encourage them to save bitcoin for their retirement, for their future.

She explained that this is “because, as Congress spends billions and billions of dollars and floods our economy and the global economy with US dollars, there is no way we can depreciate the value of the US dollar.” So, I’m worried about seeing all of our retirement funds denominated in US dollars. “

Lummis emphasized that you need to have a diversified portfolio. “So under diversification, having a very diverse asset allocation, so you don’t have all of your eggs in one basket, I think one of the strongest stores of value in the long run. term is bitcoin, ”the senator concluded.

Do you agree with Senator Lummis? Let us know in the comments section below.

Tags in this story Bitcoin retreat, Buy bitcoin, buy pending bitcoin, Congress, cynthia lummis, dollar debasement, hold back bitcoin, senator lummis, store of value, US dollar, US senator

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