TL; DR failed
- Bitcoin cowboy Sen. Lumis responded to Hillary Clinton’s derogatory remarks.
- The senator says bitcoin is the solution to the problem of constant dollar inflation.
Wyoming Sen. Cynthia Lumis, a Republican senator in Wyoming, criticized Hillary Clinton for her derogatory remarks about digital currencies because she said digital assets had the potential to weaken the US dollar.
Last week, former Secretary of State Hillary Clinton told a roundtable discussion at the New Bloomberg Economic Forum in Singapore that digital currencies could “destabilize nations.”
Lumis in response to Clinton Tweet Where Bitcoin Cow suggested that Bitcoin offer a hard-money solution to the problems of US dollar inflation.
The senator tweeted that bitcoin could help “stabilize” the otherwise volatile US dollar.
Great leaders are not afraid of the future. The United States can secure the future by accepting bitcoin as hard money that can stabilize the US dollar and reverse the trend that began in 1971.
The bitcoin bull cryptocurrency was about what happened in 1971, when President Nixon completely abolished the gold standard and brought the US money supply under federal control. Inflation has become a problem, and savings rates have plummeted across the Western world.
Bitcoin is now being touted as a solution to such a problem due to its fixed and non-manipulative monetary policy.
Lumis, a bitcoin cow, proposes a crypto reform bill
Along with Senate Finance Committee Chairman Ron Weiden, Lumis introduced a bill that would reverse some of the provisions of digital currencies in the bipartisan infrastructure package.
Sources who saw the bill say it seeks to “revise applicable construction laws to the reporting requirements imposed on brokers in relation to digital assets and for other purposes.”
Lumis is one of the few Bitcoin cows to be an American senator. Several lawmakers in the country do not care about digital currencies. They prefer the USD to remain the dominant currency in the world, rather than what they see as a rival to USD dominance.