Bitcoin turnaround in Washington? US Senator makes BTC plea
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With the freshly elected US Senator Cynthia Lummis, the largest crypto currency has won a prominent word fencer who could stir the BTC advertising drum in Congress in the future.
The balance of power in the country of unlimited possibilities has shifted anew. By the chair back in the congress a fresh wind blows in both chambers, at least in parts, which could provide also Bitcoin lift. That the crypto currency gets Zuspruch from politician rows, does not happen finally every day. All the more hellhöriger becomes the Community, if prominent politicians switch themselves on into the discussion and refer pro crypto positions.
This happened on November 14. The newly appointed Senator for the State of Wyoming, Cynthia Lummis, gave a mini-placement for the crypto currency in the breakfast show Good Morning America on TV channel ABC. She wanted to bring Bitcoin into the national debate and justified this primarily with her previous function as State Treasurer.
As such it had been the task of the „Bitcoin Advocate“ to manage the state’s permanent funds and to invest them in suitable value storage facilities. According to Lummis, Bitcoin in particular combines the inherent functions of a store of value, citing the limited supply of 21 million units as an argument.
The Republican, who is the first woman ever to move to the Senate for Wyoming, stresses that Bitcoin will play a key role as a store of value for a long time to come. Whether the senator wants to put Bitcoin on the political agenda is still open.
Tailwind from politics and business
Lummis‘ statements, although very brief, show that Bitcoin has long since arrived in the political discourse. The call for stable stores of value has seldom been greater in the face of a corona-induced global economic crisis and inflationary monetary policies of central banks. The value promise of the crypto currency encounters both with private and professional investors on fruitful soil and it seems, as if Bitcoin redeems this promise gradually.
Admittedly: The crypto market and in particular Bitcoin has never been dependent on assistance or the blessing of the public. Over the past few years, the BTC adaptation has creepingly shifted from the back rooms to the big companies and in doing so, to a certain extent, „by itself“ – without an advertising campaign or crypto-friendly regulations.
But companies like MicroStrategy, Square and PayPal have shown recently: With the tailwind of the economy and increasing applications in payment services, adaptation is just faster – and the Bitcoin course is on the rise. In order to bring Bitcoin beyond the manageable crypto sector into the mainstream, it ultimately needs prominent advocates.
And the number is increasing. Only recently, the Australian ex-senator Cory Bernardi stated that he had jumped on the BTC train in recent years. Andrew Bagg, also a senator in Down Under, also named block chain technology as a key technology for modern payment traffic during the „Future of Financial Services 2020“.
On the other side of the Pacific, however, the pro-BTC voices are also becoming more audible. One of the best-known figures is U.S. Congressman Tom Emmer, who has repeatedly spoken out in favor of Bitcoin and criticized harsh regulation of the sector. Patrick McHenry, who has already defended Bitcoin in Congress as „an unstoppable force“, has already taken a similarly strong stand. Only the outgoing president seems to have made a fool of the digital currency. But with statements like „Go after Bitcoin“ he has once again put on the jester’s hat himself.