Bitcoin HODLer Cynthia Lummis Wins Senate Primary in Wyoming


Former Rep. Cynthia Lummis (R-Wyo.) has won the first round of the US Senate race. On Tuesday, she won her state's Senate GOP primary and is now one step closer to replacing retiring Sen. Mike Enzi (R).

Lummis, who served four terms in the House, will now be facing Merav Ben-David but is about guaranteed to fill the seat.

She is a bitcoin holder, which is no surprise given that her state of Wyoming is leading the US in integrating blockchain technology and cryptocurrency into the regulatory framework.

In an interview with CoinDesk, a few months back, she revealed that she continues to hold onto her first Bitcoin that she purchased in 2013 as she is a “HODLer.” Lummis has never sold and remains a buyer, as it is the way to protect her future.

An advocate of bitcoin, she believes in the current macro environment, “we need stores of value that are decoupled from the economy,” and that is bitcoin.

In the 21st century, where the central bank is printing money and declining the value of the US dollar, “cryptocurrencies may be on the uptick,” she said.

Unlike all the interest towards central bank-backed digital currencies, Lummis is very much clear on this very front as well as she explained how that is a matter of convenience instead of targeting being a store of value.

“As long as a dollar-based digital currency is backed by the full faith and credit of the U.S., as opposed to something more scarce, then I don’t think it can add value,” she said.

According to Nic Carter, co-founder of Coin Metrics, it is “amazing” that she believes in bitcoin and cryptocurrencies have given that “Cynthia is most likely going to be Wyoming's new senator.”

“Anyone who thought that America wouldn't eventually embrace Bitcoin is crazy. Bitcoin values and core constitutional American values have a lot in common,” he added.

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