Speaking to Fox News, US Senator Cynthia Lummis says the government’s Bitcoin reserves can help strengthen the dollar. Indeed, Lummis discussed the ability for BTC to “help the US dollar remain strong,” as the country continues to fend off geopolitical efforts to weaken the greenback.
The Senator has been well-known for her crypto advocacy. In a post to X (formerly Twitter), she explained her BTC-focused agenda. Specifically, Lummis called for “no retail Central Bank digital currencies,” while advocating Bitcoin self-custody protection and the restoration of the dollar’s global prominence.
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US Senator Says BTC Can Strengthen the US Dollar
With Bitcoin becoming a central talking point of the upcoming Presidential election, Cynthia Lummis has recently discussed its importance. The US Senator assured the public that Bitcoin can actually help strengthen the dollar. Especially as the world has turned to other currencies in the last several years.
“No Central Bank digital currencies,” Lummis told Fox. “I’m so happy about that because that’s a means of surveillance of the American people.” Thereafter, she talked about the importance of self-custody. Specifically, how that impacts the greenback.
“We want to make sure people can have individual wallets for their Bitcoin,” Lummis said. She noted that allows citizens to have “that [sovereignty] over their own money. We know we want the SU dollar to remain strong, and actually having Bitcoin in reserves can help the US dollar remain strong,” she added.
Also Read: US Senators Cynthia Lummis and Kirsten Gillibrand Propose Crypto Regulatory Measures
The US dollar has faced notable criticism this year. The BRICS economic alliance has emerged with increased de-dollarization efforts. That is only compounded by the United States’ impending debt crisis.
Greater adoption of Bitcoin can help that. The asset has already seen a Spot Bitcoin ETF debut in January. That carried the leading currency to a $73,000 all-time high in March of this year. Although it is currently above $58,000, according to CoinMarketCap, there is still room for it to continue to surge in value this year.