News Crypto and cryptocurrencies

Cynthia Lummis responds to Hillary Clinton on cryptocurrencies

According to the senator, Bitcoin would help the dollar

The senator Cynthia lummis, a well-known supporter of digital assets, has decided to respond to the words spoken by Hillary Clinton related to the threat posed to the dollar by cryptocurrency. An answer which goes completely against the statements made in the course of New Economy Forum di Bloomberg, held in Singapore, when the former Democratic candidate for the White House said they would represent a threat to the stability of the US sovereign currency.
According to the Republican representative of Wyoming, however, il Bitcoin it would be able to guarantee a solution to the dollar inflation problems. He did so in a tweet which, however, attacks Richard Nixon's abolition of the gold standard.

Cynthia Lummis' tweet

Cynthia Lummis' response to Clinton came in the form of a tweet. Which states, in essence, that the great leaders do not fear the future, which could be conquered precisely with the adoption of Bitcoin, aimed at stabilizing the dollar and canceling "The vortex started in 1971". The vortex the senator refers to is Nixon's abolition of the gold standard by placing the money supply under federal government control. Since that time, inflation has become an increasingly pressing problem, resulting in a massive decline in savings rates across the Western world.

Why could Bitcoin turn the clock back?

It is not the first time that Bitcoin is indicated as a possible solution to the problem represented by inflation. The reason is to be found in the fact that its monetary policy is absolutely fixed and cannot be manipulated. Precisely this is the underlying reason that has prompted a large number of institutional investors to look at the icon with increasing interest crypto attributed to Satoshi Nakamoto. Especially after the US government's decision to give life to plans aimed at responding to the spread of Covid and its economic consequences on the stars and stripes economy.
The real flood of money poured by the executive on businesses and families, however, has led to one new burst of inflation. Such as to push investors to look for new assets capable of providing security, among which Bitcoin has also been identified.

An attack on Hillary Clinton?

However, not a few observers have had it easy to mark Lummis' response as level one simple political retaliation. The doubts expressed by the former Secretary of State, in fact, are even timid compared to the opposition that has always been expressed by Donald Trump. Which, even in the recent past, went so far as to stamp Bitcoin as a real scam. Words of fire which do not even appear out of place in the Republican senator's tweet.

Is Lummis a Bitcoin maximist?

There is also another notable contradiction in the positions taken over time by Cynthia Lummis. While on the one hand he has never lost an opportunity to praise Bitcoin, indicating it as a divine gift in the course of a speech given to Congress, on the other hand, it did not hesitate to attack other projects in the crypto world head-on. Among them, in particular, i meme coins, starting from Shiba Inu, attacked during a detailed interview granted to CNBC. His is an extremely critical position, due in particular to the ways in which these tokens were launched on the markets, responding to purely speculative intentions.

Buying Cryptocurrencies? Exchange Binance Binance

Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

Similar posts

Leave a comment

Your email address will not be published.

Back to top button