Tuesday, June 28, 2022

US Senator Advised to Buy Bitcoin for Retirement

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Bitcoin has taken a beating recently, but it is still being plugged by crypto campaigners – including a US senator.

On Tuesday, US Sen. Cynthia Lumis, a Republican from Wyoming, said she encourages investors to buy bitcoin to help diversify their retirement holdings.

“To me, I see bitcoin as a great store of value,” said Loomis. At the Acesparks Financial Advisors Summit. “I buy bitcoin and I have bitcoin.”

Loomis quickly added, “I don’t want everyone to put all their money in bitcoin just like I don’t want everyone to put it in dollars and put it under the mattress.”

The senator has taken a bullish approach to bitcoin and even prompted the Federal Reserve to create its own digital currency to serve as a check against inflation. He has also partnered with Senator Kirsten Cinema to form the Financial Innovation Caucus.

An associate of The Post said in a statement, “For Senator Lumis, the digital asset push is a recognition that we need to bring our financial system to 21.scheduled tribe century.”

The notoriously volatile cryptocurrency was recently down 5.9 percent to 34,288.10, according to Coindesk.

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