Republican Cynthia Lummis spends thousands of dollars for Bitcoin

Republican Cynthia Lummis spends thousands of dollars for Bitcoin 2

Senator Cynthia Lummis bought Bitcoins in the middle of August. The details revealed through the SEC filing.

Adoption of Bitcoin is not only increasing among the usual financial investors. Because now time is over and Bitcoin adoption shifted to other Bitcoin haters and non-crypto investors. 

According to the United States Securities Exchange and Commission filing details, Cynthia Lummis, senate from Wyoming, spended about $50,000 to $100,000 to purchase Bitcoin on 16 August.

This is not the first time that Cynthia bought Bitcoin. Earlier this, she supported Bitcoin and revealed that she owns 5 Bitcoin tokens. 

Earlier this, in an interview with CNBC, Cynthia revealed her Bitcoin holdings and suggested other people to invest in Bitcoin for their retirement.

“I encourage people to buy and hold. I encourage them to save Bitcoin for their retirement, their future. That’s because as Congress spends trillions and trillions flooding our economy and the world economy with US dollars, there’s no way that we cannot debase the value of the US dollar.”

In June, Cynthia Lummis launched bipartisan Financial Innovation Caucus to lead the digital assets adoption in Wyoming and bring better regulatory laws for the Digital assets market. 

Cynthia also said that financial leaders of Wyoming are working on the development to work with the crypto operations so she will give push about this adoption with the integration of crypto with traditional banks.

“..because Wyoming was the first state to establish a set of laws that are now being used to charter new banks in cryptocurrency and take them through the Federal Reserve process and integrate them into the traditional fiat currency world, I took an interest in this issue.”

Read also: Ethereum Creator describes El Salvador’s Bitcoin law “reckles”

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