U.S. Senator Cynthia Lumis said, “Thank God for bitcoin,” during her speech in the Senate on raising the U.S. debt limit. “Bitcoin is not issued by the government, so it is not looking at the tsunami operated by the government,” he explained.
U.S. Senator to Congress: ‘Thank God for Bitcoin’
Senator Cynthia Lumis praised Bitcoin during her speech on the Senate floor last week about raising the U.S. debt limit. The senator has been a bitcoin holder since 2013 and has repeatedly said that bitcoin is a great store of value.
Lumis noted that while lawmakers were vigorously discussing raising the debt limit, “almost no one is talking about debt.” “We are moving closer to 30 300 trillion. Of course, if the majority party and the Biden administration pass recreational spending, it will be more than 30 trillion, ”he warned.
The senator from Wyoming explained:
Historically, countries have historically declined as their gross domestic product has exceeded.
Quoting the Congressional Budget Office, the senator said in February that the national debt would exceed the country’s GDP this year, adding: We can’t go on like this. It is deeply irresponsible. ”
“We are rapidly moving towards a time when we will not be able to repay our debtors,” the senator warned.
He went on to share:
One of the reasons I became so interested in digital currency, non-fiat currency, is that they are not issued by the government. Bitcoin is not issued by the government so it does not target government-run ts.
“If we let the dollar fall, we have history lessons in front of us and we fail to act, then we are really irresponsible,” Lummis asserted.
He goes on to say: “If this unfortunate event happens, I want to make sure that the non-Fiat currency-currency issued by the government, the currency that is not seen for political elections, can grow, allow people to save, stay there.” The fact that we fail to do what we know to do.
It noted that “there is still no evidence in the 21st century that we are going to get it right. Time and again, in the US House and Senate, again and again, the presidents of both parties are running irresponsibly, without any plan to deal with it,” the senator added.
So, thank God for Bitcoin and other non-Fiat currencies, which transcends the irresponsibility of government, including ours. This is our first post.
What do you think of Senator Lumis’s remarks? Let us know in the comments section below.
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