US Senator Cynthia Lummis criticized Hillary Clinton for fears of a threat from cryptocurrencies. A supporter of bitcoin suggested that it is digital gold that can be a salvation for the dollar from inflation.
Earlier, during the Bloomberg New Economy Forum, the former first lady, Secretary of State in the Barack Obama administration and participant in the 2016 presidential race, Clinton said that cryptocurrencies could undermine the dollar’s status as a reserve currency. Digital assets can also destabilize entire countries, she added.
“Great leaders are not afraid of the future. America could be a winner by adopting Bitcoin as a hard currency that can be used to stabilize the dollar and reverse the tailspin that began in 1971, ”Lammis wrote in response.
She did not elaborate on how the first cryptocurrency should stabilize the dollar, but did mention 1971. Then US President Richard Nixon completely abolished the gold standardtransferring control of the money supply The fed… This is believed to have made the economy more prone to inflation by allowing unsecured money to be printed.
Perhaps Lammis believes that digital gold can now act as collateral for the dollar.
In October, the senator said bitcoin and other “non-fiat currencies” could potentially help Americans and foreigners cope with the looming economic crisis.
In August, the politician increased her investments in the first cryptocurrency. Lammis first invested in digital gold in 2013.
Recall that after the election, the senator promised to bring the discussion of bitcoin to the national level and called for a part of pension savings to be transferred to an asset.
Prior to joining the Senate, Lammis served as Treasurer of Wyoming. In 2019, the state passed legislation that equated cryptocurrencies with money.
The senator co-authored an amendment to the infrastructure plan, the norms of which were criticized by the crypto community. Neither the Wyden-Lammis-Toomey proposal, nor the competing amendments, nor the compromise amendments were included in the bill.
In November, President Joe Biden signed a plan with no changes to the regulations affecting the cryptocurrency industry.
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