Amid the ongoing crackdown in China, a lot of Bitcoin miners are shifting base to the U.S. The Republican U.S. Senator of Wyoming – Cynthia Lummis – has recently invited Bitcoin miners. The Republican Senator tweeted: “If you are in the Bitcoin mining space, please reach out. We WANT you in Wyoming”. Cynthia Lummis has been recently vocal about her support for Bitcoin and the overall crypto space. Crypto miners are fleeing China as the government continues to intensify the crackdown.
— Cynthia Lummis (@CynthiaMLummis) July 3, 2021
Cynthia Lummis has been vocal about her support for crypto.
Lummis has been open in her views, saying that the leading cryptocurrency bitcoin allows investors to diversify their assets amid the U.S. dollar’s declining value concerns. Earlier, Lummis urged people to buy Bitcoin and save it as part of the retirement plan. “I believe USD should and will continue to be the world’s reserve currency. BUT spending like drunken sailors is not serving the American people or the value of USD, well,” the Wyoming Senator tweeted. I believe financial innovation offers an egalitarian opportunity for hardworking Americans to store the value generated by the sweat of their brows, she added.
Wyoming Senator pushes bitcoin for retirement plans.
As reported earlier, speaking at the CNBC Financial Advisor Summit on June 29, Senator Cynthia Lummis said she would like to see Bitcoin and other crypto-assets become a normal part of diversified asset allocations used for retirement funds. She said it would help them protect from inflation. “I’d also like to see individuals be able to use Bitcoin and cryptocurrencies of their preference that are safe, that have met the hurdles of anti-money laundering and Bank Secrecy Act,” Wyoming Senator added.