Senator Lummis Reveals Buying Between $50k and $100k Bitcoin

2021-10-08 21:21:00
The Pro Crypto Senator

Senator Cynthia Lummis (Representative – Wyoming), reveals purchasing bitcoin assets worth between $50.000 and $100.000. According to the Periodic Transaction Report, Mrs Lummis purchased the bitcoins on August the 16th.

The senator, who is an avid bitcoin investor, believes that bitcoin needs regulation. In fact, during a speech in the Senate just last week, she again bashed digital coins, by stating their unpredictability. Moreover, the senator also believes that bitcoin should be backed by cash.

Bitcoin must be 100 percent backed by cash.  And this should be audited regularly.Cynthia Lummis | Senator - R-Wyo

Senator Lummis reveals that her first interaction with crypto was back in 2013. And that it is her family members (son-in-law) that introduced her to crypto, and eventually educated her on the subject.

The senator even goes by saying that when she first started with crypto, the price of bitcoin was about $320. Acknowledging that she serving as the state treasurer of Wymoing taught her to always keep an eye of a good investment.

Disclosing Assets

According to the 2012 Stop Trading on Congressional Knowledge Act (STOCK Act), all senators and senior staff members must disclose earnings higher than $119.554.

Moreover, disclosing specific transactions may include all activity such as selling, purchasing or exchanging any stock, commodities, bond, future, etc. This includes all transactions that surpass $1.000.

Consequently, this is how we have a clear insight on the activity of the most influential politicians in the state. And senator Cynthia Lummis purchasing $50.000- $100.000 bitcoin definitely means that crypto attracts people from every social category. Regardless of income or position, everyone wants part of crypto.

This clear by simply looking at El Salvador where more than 3 million citizens received $30 in bitcoin. As oppose to billionaire Elon Musk who also frequently buys the asset, but in far greater amount, understandably.



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