U.S. Senator Cynthia Advises Crypto-Friendly Retirement Plans

U.S. Senator Cynthia Advises Crypto-Friendly Retirement Plans

U.S. Senator Cynthia Lummis recommends crypto-friendly retirement plans by turning Bitcoin and other cryptocurrencies as retiral wage for the U.S citizens. 

Senator Lummis about Crypto Future

During the CNBC Financial Advisor Summit held on 29th June, 2021 Senator Cynthia revealed her ideal crypto future. Cynthia opens up saying that she wants to see cryptocurrency, like Bitcoin, become part of a diversified asset allocation. In addition, the senator is more concerned about the future of daily consumers and shares digital assets are a good store of value. 

Senator also added,

“An employee with a retirement fund – I’d like to see those retirement funds invested in bitcoin and other cryptocurrencies, but I’d also like to see individuals be able to use bitcoin and cryptocurrencies of their preference that are safe, that have met the hurdles of anti-money laundering and Bank Secrecy Act.”

Moreover, Lummis insisted on the importance of saving money on different assets which can help the people in future. Additionally, the senator also discuss about inflation risks caused by the government on currencies. Hence to maintain a diverse asset allocation she encourages people to buy and invest in bitcoin- a  long term investment. 

Interestingly, Lummis also revealed the count of bitcoin she owns. It is 5 BTC in total and the price of the first bitcoin was $330 in the year 2013. The Senator is also known as a Bitcoin proponent, as her investment on BTC remains the same even if the price drops to extremes. 

Therefore, at last Lummis advised the U.S. people saying, I don’t want everybody putting all their money in Bitcoin just like I don’t want everybody putting it in dollars and putting it under a mattress.

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A responsible HR Admin with good experience in an international pharmaceutical company. She is passionate about dedicating her time to share her perspective about crypto and blockchain technology.