A Bitcoin (BTC) devoted Republican Senator for the state of Wyoming, Cynthia Lummis, has answered Hillary Clinton for warning against cryptocurrencies by suggesting the adoption of BTC as a large-scale economic solution. She asserted that it has the potential to provide a solution for the inflation issues of the US dollar.
Lummis advises Clinton to adopt the future
Lummis’s remarks came following the cautionary comments of Hillary Clinton (State Secretary) previously this week. While appearing in a group discussion in Singapore at the Bloomberg New Economy venue, the State Secretary expressed an apprehension that the nations could get destabilized by cryptocurrencies. On this day, Lummis countered Clinton with a contradictory viewpoint. Lummis responded in a tweet that Bitcoin (BTC) could rather assist in stabilizing the unstable USD. She stated that the prominent personalities do not get fearful about the future, and the future can be won by America via adopting Bitcoin in a hard money form to stabilize the dollar.
In 1971, the gold standard was entirely abolished by President Nixon, as he put the supply of the United States economy under the control of the Federal Government. Since that time, the issue of inflation has been relatively widespread, and a severe decline has been witnessed in the savings rates throughout the Western sphere. BTC is time and again promoted to be a solution to tackle this issue because of its a monetary policy that is completely fixed as well as cannot be manipulated.
The Senator’s persuasion for advancement is a straight shot at the position of Clinton being a politician. Standing alongside Donald Trump in the United States election of 2016, the previous first lady turned out to be an insignia of politics concerning the establishment, which the BTC consumers hate. In that perspective, Trump has confirmed to be similarly fearful regarding the topic of cryptocurrency.
Is Lummis a maximalist of Bitcoin?
It’s ambiguous what Lummis refers to when talking about the stability of the United States dollar by using Bitcoin. Her point maybe that BTC could support the value of the US dollar, as gold did before 1971. Otherwise, she might just mean that the US dollar could be compelled by Bitcoin to be utilized as a store of value through minimizing its inflation. On both sides, Bitcoin is referred to by Lummis as money instead of being only an asset. She has presented a keen dedication toward crypto due to this reason, even in Congress.