The United States faces a nervous wait to see who won the country’s general election with results too narrow in many states to name – but crypto advocates are already celebrating the victory, with a well-known proponent of Bitcoin (BTC) wins a seat in the Senate.
Cynthia Lummis. Source: Twitter / @ CynthiaMLummis
Cynthia Lummis, the Republican Party candidate for Wyoming, said on Aug. [crypto] against federal interference, ”said a tweet from Caitlin Long, CEO of Avanti Bank & Trust, a Wall Street veteran and crypto advocate.
A Bloomberg TV contributor, meanwhile, tweeted:
Known as a longtime Bitcoin enthusiast, Lummis said she made her first purchase in 2013 when you could buy BTC 1 for around $ 300. At the time of writing, a bitcoin costs around $ 13,685.
Lummis previously served in Congress, telling the Wyoming Blockchain Stampede in a recent video interview:
“It was during my time in Congress that I learned about Bitcoin for the first time. I was surprised at how innovative Bitcoin is with its decentralized public ledger and fixed offering. […] Knowing that there will only be 21 million Bitcoin makes it an attractive store of value. “
This last point is important as the USD’s status as the world’s de facto reserve currency is now under threat.
“Bitcoin has shown great promise to me and could rise to the ground as a viable alternative store of value to the US dollar on both an institutional and personal level. We must at least recognize this potential in our discussions about the economic future of our country. “
The new senator also has ties to the crypto family. Their daughter Annaliese is married to Will Cole, the chief product officer of the crypto company Unchained Capital and former vice president of Stack Overflow.
At the end of last month, the Wyoming State Banking Board issued Avanti Bank & Trust a banking charter that gives it an equal position with the national banks in its approved business areas.
US Election: Crypto Prediction Markets Turn To Favor Trump Over Biden, Bitcoin Cuts Profits
The US election: withdrawal possible, but neither Trump nor Biden won’t stop Bitcoin