bitcoin and to cryptocurrencies Republican Senator Cynthia Lummis, known for her support of the FED He said that buying Bitcoin would be a great idea.
Speaking at a panel organized by the Orrin G. Hatch Foundation yesterday, Wyoming state senator Lummis said: bitcoin He emphasized that it is digital gold and its supply is limited to 21 million.
FED’s Buying Bitcoin is a Great Idea!
“The Fed has over $40 billion in foreign exchange reserves. That’s why it would be a great idea for the FED to buy Bitcoin, to be honest.”
Cynthia LummisIn response to a question asked by moderator Matt Sandgren, who hosted the panel:
“When there is a legal and regulatory framework, it would make a lot of sense for the FED to buy Bitcoin.
The decentralized nature of Bitcoin will make it more common over time and I think Bitcoin will be something the Fed should have on its balance sheet.”
Randal Quarles, the former vice president of the FED’s audit, who participated in the panel attended by Lummis, said that he did not agree with Lummis.Fed’s balance sheet recently will add bitcoin you don’t think“ stated.
lummisFinally, he added that they believe that traditional banks will eventually integrate Bitcoin and other digital assets and establish crypto money divisions within their structure.
Lummis’ Bitcoin Approach!
Showing her support for Bitcoin and cryptocurrencies at every opportunity, Senator Cynthia Lummi says she heard the word Bitcoin for the first time in 2013 from her daughter and son-in-law.
Lummis, who later became one of the strongest supporters of the crypto industry, announced that he made his first Bitcoin purchase in 2013 at $ 330 and continued his investments.
*Not investment advice.