Cynthia Lummis believes that with the main cryptocurrency and other digital assets, savings can be protected from inflation.
Wyoming Republican Senator Cynthia Lummis has called on pension funds to use Bitcoin and other digital assets to diversify to protect savings from inflation.
The politician announced this at the summit of financial consultants CNBC . Lummis highlighted the importance of maintaining “diversified asset allocations,” warning of inflationary risks posed by government spending and new money creation.
“Congress spends trillions and trillions of dollars and floods our economy and the world economy with US dollars, we can not reduce the value of the US dollar,” – said the senator.
US citizens have been able to include crypto assets in their retirement savings since 2014. The corresponding authorization has been issued by the IRS.
On June 23, Lummis announced the purchase of bitcoin at the bottom. She added that she is delighted with the purchase and will continue to invest in the cryptocurrency as its price declines. The senator also called the advantages of bitcoin.
The digital coin could contain the devaluation of the US dollar and other fiat currencies, she said.
