- October 8, 2021
- |Bitcoin, Crypto News, Government, Investment
Bitcoiners have a great deal to be happy about today, especially if they’ve been worried about Biden’s threats against cryptocurrency. Senator Cynthia Lummis, R-Wyo., recently disclosed a huge Bitcoin purchase that should ease their minds about Bitcoin’s future.
Due to the 2012 STOCK Act, Congress must disclose purchases and sales of stocks, bonds, and commodity futures within 45 days that these transactions take place. In an amendment to a previous filing to stay in compliance with the law, Senator Lummis disclosed that she purchased Bitcoin worth about $100,000.
If you’re following the news, you might be picking up on a pattern that is very good for Bitcoin and other cryptocurrencies. Despite some of the negative-leaning opinions found in the media about Bitcoin, Washington won’t be coming after Bitcoin any time soon. Joe Biden can get as many countries as he wants to help him. But, without Washington behind him, he doesn’t stand a chance of doing anything.
Senator Lummis has been a long-standing advocate of Bitcoin. She made her first Bitcoin purchase in 2013 when it was only $330 each. And when Ryan Selkis announced his Senate bid, that made him the first of a kind. So one of the digital currency’s own in Washington is a big plus for our side.
But Senator Lummis doesn’t just own Bitcoin. She wants so much more than that.
In a CNBC interview in June, Lummis made this promising statement,
“I would like to see cryptocurrency, like Bitcoin, become part of a diversified asset allocation that are used in retirement funds and other opportunities for people to save for the future.”
Now, if hearing that doesn’t put a smile on your face, I don’t know what will. But we have advocates in Congress! When SEC chair Gary Gensler spoke to Representative Ted Budd (R-NC 13 District) in a live interview, he stated very clearly that the SEC “wasn’t interested in banning Bitcoin.” However, he did insist that the SEC would only be putting protections in place for investors. Budd went on to say that the fate of the digital currency’s future is in the hands of Congress.
With Bitcoin advocates like Lummis and Selkis in office, I don’t see that happening. There may have been some attacks on digital currency. But it’s the Bitcoin advocates in Washington who are fighting back and keeping Bitcoin safe from this type of regulation.
To invest in a currency you can trust and have powerful Advocates in Washington, head to a Byte Federal ATM near you!