I was recently approached by a fellow Senator to discuss whether I’d be interested in buying a Bitcoin at a price of $4400, which at that time was a 47% decline from that year’s high price. Senator Lummis is a Bitcoin advocate and told me she was excited to buy her first Bitcoin. The price of Bitcoin has since recovered to over $20,000, but it was the conversation I had with Senator Lummis that sparked my interest in the cryptocurrency.
If you’re looking to buy some Bitcoin, you have a few options. If you’re a United States citizen with a U.S. bank account, you can use Coinbase, Circle, or Gemini. If you’re a U.S. citizen, resident alien, or green card holder and you aren’t from California, you can use BitPay, Bitstamp, or BTC-e. If you’re a U.S. citizen and live in Wyoming, you can buy Bitcoin using BitGo. If you’re a U.S. citizen living in either New Hampshire or Wyoming you can buy Bitcoin using BitAccess. If you’re a U.S. citizen living in Montana, you can buy Bitcoin using Bitpay
Last week, Senator Lummis, a Wyoming Republican, called for a Bitcoin buyback program, a model that would allow the government to purchase the cryptocurrency and destroy it. The idea is that the government can then tax the profits, and thus help to regulate the market. Her first official foray into Bitcoin legislation was one of the most attention-grabbing bills of the year.
U.S. Senator Cynthia Lummis, a Republican from Wyoming, took advantage of the sharp drop in bitcoin (BTC) prices this week by increasing her holdings.
Amid another major correction in crypto asset prices, Lummis said Wednesday in an interview with Fox News that she was glad she bought bitcoin at its peak.
U.S. Senator, @CynthiaMLummis, I can’t wait to buy some #bitcoin dip pic.twitter.com/OHXiA6vhxi
– Bitcoin documenting (@DocumenterBTC) June 23, 2021
On the rapid decline in the price of bitcoin, Lummis said:
I’m very happy about that, because as soon as the price drops a bit, I buy more.
Lummis compared bitcoin’s decline to the performance of one of his favorite stocks, United Rentals. I bought it, said Lummis of United Rentals, and it dropped like a stone. I jumped on it, and my goodness, it has worked wonders over the years, she said, adding:
I can see bitcoin doing the same thing, because the fundamentals are good.
Lummis is one of the strongest supporters of bitcoin in the U.S. Senate. Earlier this year, she founded the Financial Innovation Caucus to educate fellow lawmakers about bitcoin and other cryptocurrencies. Lummis said at the time that she would work with the Caucus to combat misconceptions about cryptocurrencies, including their connection to money laundering and other financial crimes.
Related: Bitcoin’s rebound from the $28.8K mark activates the bullish thesis of the age-old financial model.
According to Cointelegraph, Senator Lummis attended the Bitcoin 2021 conference in Miami this year, where she spoke about the importance of promoting cryptocurrency innovation. She was joined by Representative Warren Davidson, a Republican from Ohio, in a discussion titled Bringing Bitcoin Innovation Home to America.
After dropping below $29,000 earlier this week, the price of bitcoin appears to have found support again above $30,000. At the time of writing, the digital currency was up 5.5% at $33,700.Wyoming Senator and Bitcoin enthusiast Cynthia Lummis is so excited about the price drop on illicit online currency that she’s willing to pay it—literally. She’s reported buying up as many bitcoins as she can on the world’s largest illicit online currency exchange, and will pay them with dollars, a move that would allow her to take advantage of the low price. “I’m excited about it. I’m going to buy a bunch of bitcoins,” Lummis told the Associated Press on Thursday. “I’m going to buy as many as I can afford.”. Read more about why crypto market is down today 2021 and let us know what you think.
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