Popular US Senator and crypto advocate, Cynthia Lummis, wants the populace to invest a portion of their retirement funds in bitcoin and other cryptocurrencies that are good stores of value.
The Wyoming representative said this while speaking to CNBC’s Senior Congressional Correspondent, Ylan Mui at the CNBC Financial Advisor Summit.
Mui asked Senator Cynthia to describe her ideal crypto future and this was her response.
“Okay well, I would like to see cryptocurrency, like Bitcoin, become part of a diversified asset allocation that are used in retirement funds and other opportunities for people to save for the future.”
“So whether you’re an employee that has a retirement fund – I’d like to see those retirement funds invested in bitcoin and other cryptocurrencies that are good stores of value – but I’d also like to see individuals be able to use bitcoin and cryptocurrencies of their preference that are safe, that have met the hurdles of anti-money laundering and Bank Secrecy Act.
When quizzed about the volatile nature of cryptocurrencies she replied emphatically:
“For me, I see bitcoin as a great store of value. I buy bitcoin and I hold bitcoin.”
Senator Cynthia Lummis also revealed that she paid $330 for her first bitcoin which she bought in 2013, since then, she has added four more bitcoins to her asset making it five in total.