October 3, 2022

Senator Lummis Slams Hillary Clinton, Advocates For Stabilizing United States Dollar Using Bitcoin

2 min read

Cynthia Lummis– Republican Senator for Wyoming– recently fired back at Hillary Clinton for deriding cryptocurrencies. She recommended that Bitcoin provides a difficult money option to the US dollar’s inflation problems.

Lummis Tells Clinton to Embrace The Future

Lummis’s remarks follow the cautionary words of previous Secretary of State Hillary Clinton earlier this week. In a panel conversation at the Bloomberg New Economy Forum in Singapore, the latter recommended that cryptocurrencies might “destabilize nations.”

Today, Lummis reacted to Clinton with the opposite viewpoint. In a tweet, she said that Bitcoin might assist “stabilize” an otherwise unsteady US dollar.

“Great leaders do not fear the future. America could win the future by accepting Bitcoin as tough money that can be utilized to stabilize USD and undo the tailspin started in 1971.”

Cynthia Lummis

Cynthia Lummis. Source: CNBC In 1971, President Nixon entirely eliminated the gold standard, putting the US cash supply under the Federal Government’s control. Since then, inflation has been an even more widespread issue, and cost savings rates throughout the Western world have actually massively decreased. Bitcoin is frequently promoted as a solution to this issue due to its definitely repaired and non-manipulable monetary policy.

The senator’s advocacy for development is a direct jab at Clinton’s branding as a politician. Running against Donald Trump in the 2016 US election, the previous first lady became an emblem of ‘facility’ politics– which Bitcoiners generally dislike. That said, Trump has proven equally fearful on the subject of crypto.

Is Senator Lummis a Bitcoin Maximalist?

It’s uncertain what Lummis wants when she requires Bitcoin “stabilizing” the US dollar. She may suggest that Bitcoin might “back” United States dollar value, like how gold did pre-1971. Additionally, she may just mean that Bitcoin will require the US dollar to contend as a store of worth by decreasing inflation.

In either case, Lummis unflinchingly describes Bitcoin as “cash,” rather than just an “property.” She’s shown fervent devotion to the cryptocurrency for this reason before, even thanking God for its existence in a speech to congress. Like numerous Bitcoin maximalists, she’s likewise been crucial of other cryptos and meme coins, like Shiba Inu.