Bitcoin Proponent Cynthia Lummis Wins the US Senate Seat

Cynthia Lummis becomes the first-ever Women Senator after winning the elections in Wyoming. She won with a huge margin and successfully secured nearly 72.9 percent of the votes against her competitor Merav Ben-David.

Her victory is looked at as a big boost to the crypto community as Lummis herself is a big fan of Bitcoin and also owns some. As per some reports she has learned about Bitcoin from her son-in-law who is the Chief Product Officer of Unchained Capital, a crypto-financial service firm.

Lummis said that she bought her first Bitcoin back in 2013 when the BTC price was just $300.

Bitcoin is a Store of Value to US Dollar – Lummis

Lummis concerned with the current national debt, was always in the hunt for a good store of value since she served as a State Treasure. That’s when Bitcoin and the decentralized technology behind it struck her mind. 

During Wyoming Blockchain Stampede back in September, she said,

“ Knowing that they’re only going to be 21 million bitcoin makes it an attractive store of value…….I believe in the economic power of scarcity and the potential for Bitcoin to address some of the manipulations in our financial system,”

During her peroid serving as a representative of state of Wyoming, Lummis had passed a series of pro-cryptocurrency and blockchain bills, These were intended to encourage new innovations within the state. Hence it’s anticipated to be a good move for the crypto space to send a Bitcoin proponent to the Senate. 

Caitlin Long, the person behind the growing blockchain space in Wyoming and founder of Avanti, congratulated Cynthia Lummis for her win.