Senator Lummis Fires Back At Hillary Clinton For Deriding Crypto

Senator Lummis fires back at Hillary Clinton after last week’s deriding on cryptocurrencies, saying that the US dollar can be stabilized by using Bitcoin so let’s read more in our latest Bitcoin news today.

The BTC-supportive senator responded to Hillary Clinton’s warning on crypto, telling her to embrace the new crypto solution. The Wyoming senator Lummis fires back at Hillary Clinton and even suggested that BTC offers a hard money solution for the US dollar’s inflation problems. Lummis’ comments followed the cautionary words of the former Presidential candidate Hillary Clinton and in a panel discussion in Singapore, she suggested that cryptocurrencies can destabilize nations. Lummis responded to Clinton with an opposite perspective and said that bitcoin could even help stabilize the unstable US dollar:

“Great leaders do not fear the future. America could win the future by embracing Bitcoin as hard money that can be used to stabilize USD and undo the tailspin begun in 1971.”

In 1971, President Nixon abolished the gold standard and put the US money supply under the Federal Government control but since then, inflation was a far more prevalent problem and the savings rates across the Western massively declined. BTC is now seen as a solution to the problem because of its non-manipulative monetary policy. The senator’s advocacy for progress is only a kickback at Clinton’s branding as a politician because she ran against Donald Trump in the 2016 US election as she was a representative for “establishment politics” which BTC supporters don’t like. With that said, Trump prove to be equally fearful of crypto.
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It’s still unclear what Lummis has in mind when she says BTC can stabilize the US dollar but it could mean that BTC could back the dollar value similarly to how hold did in the 1970s. She might also mean that BTC will force the US dollar to compete as a store of value and will reduce inflation. Either way, Lummis refers to BTC as money and she’s shown to be devoted to the cryptocurrency before.

As recently reported, After many weeks of debate, US President Joe Biden signed a new bill earlier this week to raise the United States’ debt ceiling and allow the country to avoid default again which is why Senator Lummis thanked god for Bitcoin’s existence and showed disappointment in the state of affairs. She responded with an impassioned speech on why fiat money is failing and why Bitcoin is a good alternative.
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