Bitcoin Proponent Cynthia Lummis Wins US Senate Seat

The popular Bitcoin proponent Cynthia Lummis, a US representative from Wyoming has won a seat in the US Senate as we are reading more about it in the latest Bitcoin news.

Before being elected to the US Senate, Cynthia served in the House of Representatives from 2009 to 2017. She purchased her first Bitcoin in 2013. She aims to reduce national debt and sees Bitcoin as a store of value. Republican Senate candidate Cynthia Lummis defeated her Democratic opponent and booked a new six-year term as a US Senator from the state of Wyoming. Lummis is a strong Bitcoin proponent and even purchased her very first own Bitcoin in 2013 when it was just over $300.

AWESOME NEWS for #crypto folks from the crazy US election tonight—@CynthiaLummis won #Wyoming’s US Senate seat!! The US Senate now has an unabashed #bitcoin supporter & HODLer (since 2013) among its ranks!! CONGRATS Cynthia! @willcole @CynthiaMLummis 🤠🚀🔥 pic.twitter.com/8SCF9pkRSg

— Caitlin Long 🔑 (@CaitlinLong_) November 4, 2020

The senator learned about the technology from her son-in-law who is the Chief Product Officer at Crypto financial services company Unchained Capital while serving eight years as Wyoming representative in the House from 2009 to 2017. Lummis ran on a campaign closely linked to Trump’s agenda. Her campaign promotes the “America First” agenda which is a move towards carbon capture technology and uranium mining, protecting gun rights, and eliminating abortions.

She has highlighted the national debt calling herself a “fierce budget hawk” who will work to cut spending which is why she admires Bitcoin. She’s worried that a fiscal policy combined with different monetary policies could weaken the dollar’s strength as a reserve currency. Lummis said:

 “I want to address America’s debt when I go to the U.S. Senate. But I also want to protect the value that America’s workers generate through their labor. We cannot continue to debase our currency and expect that the American workers’ wages and savings will be unaffected.”

Bitcoin could be more secure as a store of value as she said:

“I bought my first bitcoin in 2013 because I believe in the economic power of scarcity and the potential for bitcoin to address some of the manipulations in our financial system.”

It’s fitting that Wyoming should send one BTC supporter to the Senate despite having key members that are keen on crypto relative to the lower house. Back in 2019, the state passed a series of pro-crypto bills designed to attract more innovation to the state. Wyoming also granted two bank charters to crypto companies to offer financial services that bridge fiat and digital crypto.