The American Senator Cynthia lummis revealed that he had bought five bitcoins in 2013 and encouraged people to buy portions for themselves to prepare for the devaluation of the dollar.
The US dollar will weaken due to the Fed's actions, and people should buy and hold Bitcoin to protect themselves, the senator said. She has shown her support for cryptocurrencies for a while, having five bitcoins bought eight years ago for $ 300 each.
"Buy Bitcoin for your retirement"
Appearing at CNBC's Financial Advisors Summit, the American lawyer who served as Wyoming's first female senator reiterated her belief in Bitcoin as an investment tool and store of value.
She believes that the asset should have a place in broader portfolios, especially those oriented to the long term.
“I would like cryptocurrencies, like bitcoin, to become part of a diversified asset allocation that is used in retirement funds and other opportunities for people to save for the future. So if you are an employee who has a retirement fund, I would like to see those retirement funds invested in bitcoins and other cryptocurrencies that are good stores of value. "
He also highlighted recent moves by El Salvador to adopt BTC as legal tender as major news from a country that could benefit from it.
Furthermore, he also believes that citizens of superpowers like the US can also see merit in using bitcoin, especially after the unprecedented monetary policy carried out by the Fed last year.
He noted that Congress is spending "trillions and trillions of dollars and is flooding our economy and the world economy with dollars, there is no way we cannot reduce the value of US dollars."
Lummis reveals having 5 BTC
It was no secret that the senator had supported Bitcoin for years and would have bought it in 2013, but she has not revealed how much she has so far.
However, during the CNBC interview, the US senator revealed that she bought and still owns five bitcoins that she bought eight years ago at a price of $ 300 each. With the appreciation of BTC against the dollar in this period, your investment multiplied by a factor of more than 100 considering current prices.
However, she has not discussed any plans to make a profit, she is a hodler.