Pro-cryptocurrency Senator isn’t bothered by “crypto winter”, or the suggestions of his colleagues to limit bitcoin use in retirement plans. He believes that cryptocurrency has a bright future.
Pro-crypto Despite the fact that several of her Senate colleagues have asked for her to reconsider her position, Senator Cynthia Lummis from the United States remains firm in her belief that Bitcoin should be part of a diversified portfolio of investments for retirement.
According to current circumstances, Representative Lummis appears to be one of few Americans who openly supports cryptocurrencies. He has been a strong advocate for forward-thinking cryptographic legislation together with Senator Kirsten Gillibrand.
These comments are quite different from Lummis’ original suggestion in June 2021 about retirement plans. Lummis intends to retire the next year.
It appears that she may have made some adjustments to her previous opinions in light of the ongoing FTX crisis and crypto winter. It appears that she has slightly changed her mind about the inclusion of specific cryptocurrencies, despite having previously advocated for them.
Tina Smith, Richard Durbin, and Elizabeth Warren are using the market turmoil to reaffirm their demand that Fidelity Investments reduce their Bitcoin-linked, 401(k), retirement plan. These senators are located in a different part of Capitol Hill. These senators might be located on the Democratic side in the Senate chamber.
The three senators addressed a November 21 letter to Abigail Johnson (chief executive officer at Fidelity), and emphasized the FTX problem as a reason to not allow Bitcoin exposure in retirement plans. Fidelity received the letter. FTX stands as the Financial Technology Exchange.
The discussion has also been joined by other senators, including Jon Tester who declared earlier this week that he sees “no reason why” cryptocurrency should exist. Elizabeth Warren exclaimed with joy that “now there is more people blowing bullshit whistle.” Both statements were made publicly by senators.