Senator Lummis thanked God for Bitcoin as soon as President Biden signed the debt ceiling law. So let’s read more about it in our latest bitcoin news.

After weeks of debate, US President Joe Biden signed a new bill earlier this week to raise the US debt ceiling and allow the country to avoid another default, which is why the Senate thanked Lummis for the existence of Bitcoin and his disappointment with the state . She responded with a cryptic speech about why fiat money fails and why Bitcoin is a good alternative. The House of Representatives voted to raise the debt ceiling in December after breaking the expected recession.

The decision is biased with Senate Democrats for the measure and Republicans against. Senate minority leader Mitch McConnell has vowed to unite Republicans against further expansion in December. Senator Cynthia Lummis sees the law as part of a much bigger issue. She thinks it crosses party lines. She claims that the country will soon be unable to meet its growing debts with the presidents of both parties for almost 21 years.^NS Century and exceeds the country’s GDP. Lummis claims that this is a time when the nations are in decline, and she says:

“If we let the dollar devalue, if we have the lessons of history before us and don’t act … we are really irresponsible.”

The senator said that in the event of a dollar crash, she wanted to make sure non-fiat currencies can thrive. During her speech, Lummis said that her interest in cryptocurrencies stems from the freedom of government control:

“Thankfully, Bitcoin and other digital currencies have overcome the irresponsibility of governments – including our own. It is an indictment of our responsibility to address this large, predictable problem. “

Senator Lummis personally invested $ 100,000 in BTC, proving her confidence in the cryptocurrency, and she also admitted to owning five BTC, which she bought for $ 300 each. Bitcoin has long been hailed as an alternative to inflationary fiat currencies for a fixed offer.

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