Senator Cynthia Lummis Wants BTC Included In Retirement Plan
US Senator and crypto advocate, Cynthia Lummis, has stated that the crypto winter has had no effect on her opinion about the inclusion of BTC in a retirement portfolio plan for US residents.
In a recent interview with the online media outlet, Semafor, she further backed up her stance by restating that she is convinced that BTC should be part of a diversified retirement plan. Lummis’ stance is a stark contrast to many of her fellow Senators who have continually stated that cryptocurrencies are not useful.
Cynthia is one of the few US politicians who support Cryptocurrency. She and Senator Kirsten Gillibrand have advocated for strong crypto industry regulations.
During the interview, Senator Cynthia stated that the crypto winter did not affect her resolve about BTC and her earlier stance. She said she would like to see the digital asset added to the United States 401(k) retirement plan.
She mentioned that she always feels a sense of comfort knowing that individuals can have the opportunity to add BTC to their retirement funds. According to the Senator, the coin is different from any other cryptocurrency.
Furthermore, Cynthia said that her firm belief in BTC is because of its limited supply, as there are only 21 million BTC in circulation. Hence, she believes that BTC value will always keep rising.
However, Lummis specifically noted that this belief about BTC’s value rise due to its limited supply is her personal belief. Nevertheless, the Senator’s recent comment differs from what she said about retirement plans in 2021.
In her previous statement, the Senator stated that all cryptos could be included in a retirement portfolio plan. But the recent collapse of the FTX crypto exchange and the ongoing downturn in the crypto market have made Lummis tweak her stance, albeit slightly.
Lummis Stance On BTC And The Crypto Market
The Senator added that she also likes to see people utilize BTC and cryptocurrencies of their choice, provided these cryptos are secure and comply with the Bank Secrecy Act and anti-money laundering laws.
In a separate interview with cryptocurrency journalist Natalie Brunell, Senator Lummis shared her perspective on BTC’s future and crypto legislation. According to her, she and other like-minded Senators are drafting suitable crypto legislation.
The Republican Senator praised digital assets before highlighting the macroeconomic implications of crypto adoption and regulatory challenges affecting the crypto industry. While speaking about the cryptocurrency market’s future, Lummis said that she feels it’s incredibly sensible for the Fed to purchase BTC as it owns more than $40 billion in money reserves.
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