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Senator Lummis ‘comfortable’ including Bitcoin in retirement funds amid bear market

Lummis is a well-known crypto advocate on Capitol Hill with over $100,000 in crypto.

Cynthia Lummis, a foreign senator, is still a strong supporter of Bitcoin because she hopes to add Bitcoin to pension funds in the tough crypto market.

Lummins recently shared with Semafor: "I am very happy to ensure that you can include Bitcoin in the pension fund, because it is different from other cryptocurrencies.".

However, this is not the first time that the senator has shown initiative in Bitcoin. In June 2021, Cynthia Lummis delivered a speech at the CNBC Financial Advisor Summit to urge foreigners to use Bitcoin in their retirement plans as part of diversified operations. When he was interviewed by CNBC six months ago, Loomis once again encouraged foreigners to invest their pension funds in Bitcoin.

Since then, after experiencing the collapse of FTX, the sales market has been severely hit several times, followed by bankruptcy and anxiety. Since then, the price of Bitcoin has dropped to the lowest level, which is now less than 70% of the highest value.

Cynthia Lummis, Bitcoin enthusiast

Loomis is a famous data encryption driver on Capitol Hill. According to her accounting statement, she has tokens of 100000 to 350000 dollars.

Lumis added: "I think that only 21 million bitcoins will be mined, and bitcoins will increase.". "This is a person's belief, based only on his scarce resources."

Although the senator indicated that Bitcoin was the only cryptocurrency with the right to become a product because of the combination of Ethercoin in September. She now sees Ether as a security.

Lumis is one of the designers of a landmark unified law, Lumis Gillibrand, which aims to solve the doubts about whether cryptocurrency is a product or a security.

Although the market has been volatile recently, she plans to issue this decree again in January to respond to the relevant terms such as "digital currency". In an earlier announcement, she said frankly that the bankruptcy of FTX could only increase the enthusiasm of many people to issue the decree again in the new US Congress next month, and establish strict regulatory norms for users participating in digital asset trading.

In addition, the senator plans to meet with the SEC soon after receiving some anxiety about "unexpected adverse effects"

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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