“Thank God for Bitcoin,” said Cynthia Lummis about raising the US debt limit

While U.S. President Joe Biden signed a bill that raises the national debt ceiling to $ 28.9 trillion, Senator Cynthia Lummis said Bitcoin (BTC) is a blessing from God.

Republican Senator Lummis delivered a speech to the Senate Thursday, setting out her views on how digital currencies like Bitcoin can help countries like the US deal with the looming crisis when the state runs out of cash.

Lummis said one of the reasons she became interested in non-fiat digital currencies like Bitcoin is because it is not government issued and therefore not government debt like it is in the United States. 

Since cryptocurrencies are not hampered by governments and political elections, they should thrive and stay there so people can save if governments fail, Lummis argued:

“Time and again, presidents on both sides irresponsibly pay off debts without having a plan to deal with it. So thank goodness for Bitcoin and another non-fiat currency that overcomes the irresponsibility of governments, including our own. “

US President Biden officially signed law on Thursday to temporarily increase the state’s credit limit, extending the default period to just December.

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Lummis, a Republican from Wyoming, has emerged as one of the strongest supporters of Bitcoin in the U.S. Senate. The Senator is known for amassing a sizable amount of Bitcoin, with one of his most recent purchases ranging from $ 50,000 to $ 100,000.

In February, Lummis launched the Financial Innovation Caucus to educate other lawmakers about Bitcoin and other cryptocurrencies. The pro-bitcoin senator is also known for joining a laser flash group on Twitter earlier this year and predicts that bitcoin will hit $ 100,000 by the end of 2021.