US Senator Cynthia Lummis to Congress: "Thanks God for Bitcoin"

The United States of America Senator Cynthia Lummis, while addressing congress on about raising the U.S. debt limit, during her speech she explained that Bitcoin is not behold by debts run up by the government, because it's decentralized and it's not issued by the government. She has been a big fan of Bitcoin for long and has been investing in Bitcoin for 8 years now, after she got educate about Bitcoin from her son in law and his friends, when she was looking for something with a good store of value to invest in, on her last year of being the Wyoming’s state treasurer before she leaves the office, she held the position for 8 years.

Source

During Sentor Lummis speech she said "Thanks God for Bitcoin", but the wasn't all she had to say, below are more she added while giving her speech to Congress.

All quotes and what she said below were taken from the following Source

“almost no one is talking about the debt” itself. “We are getting closer to $30 trillion. Certainly, if the spending that is being entertained by the majority party and the Biden administration passes, it will be over $30 trillion,” she warned.

The senator from Wyoming explained:

Countries have historically tended to decline once the debt surpassed their gross domestic product.

Citing the Congressional budget office stating in February that the national debt would surpass the country’s GDP this year, the senator exclaimed: “The debt ceiling increase that is being discussed here is so more spending can occur without addressing our debt-to-GDP ratio. We cannot go on like this. It is irresponsible at the deepest levels.”

The senator warned, “we are swiftly approaching a time when we will be unable to” pay our debt holders.

She proceeded to share:

One of the reasons that I became so interested in digital currencies, in non-fiat currencies, is because they are not issued by a government. Bitcoin is not issued by a government so it’s not beholding to the debts that are run up by governments

Lummis asserted, “If we are going to let the dollar decline, having the lessons of history in front of us, and failing to act, we are truly irresponsible.”

She elaborated: “In the event that that contingency occurs, I want to make sure that non-fiat currencies — currencies not issued by governments, currencies not beholden to political elections — can grow, can allow people to save, can be there in the event that we fail at what we know we have to do.”

Noting that “There’s no proof yet in the 21st century that we are going to make this right. Time and again, in the U.S. House and the Senate, time and again, presidents of both parties have run up the debt irresponsibly, with no plan to address it,” the senator described, adding:

So, thank God for bitcoin, and other non-fiat currencies, that transcends the irresponsibility of governments, including our own. That is an indictment of our responsibility … to address this looming, predictable, massive issue.

inspiration

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