US Senator Cynthia Lummis believes that holding Bitcoin reserves could help keep the US dollar strong worldwide.
In a Fox Business interview, Lummis shared her thoughts on Central Bank Digital Currencies (CBDCs), calling them “the beast” because she thinks they would allow the government to spy on people. She encourages people to own and manage their own Bitcoin wallets to have full control over their money.
Senator Lummis, known as the ‘Crypto Queen’ in Congress, is a strong supporter of cryptocurrencies. In the interview, she stressed the importance of people having their own Bitcoin wallets to always have access to their money. Lummis believes that adding Bitcoin to the US economy could make the dollar even stronger.
Lummis shared her goals on the X platform, which include opposing retail CBDCs, protecting self-managed Bitcoin wallets, and ensuring the dollar remains dominant in the 21st century. Her pro-Bitcoin views contrast with current unclear regulatory policies that crypto leaders criticize.
This perspective is similar to that of MicroStrategy chair Michael Saylor, who also supports a Bitcoin-backed dollar. He believes such a currency would protect American privacy and property rights while strengthening the dollar.
Also read: Biden’s Crypto Veto Sparks Criticism from Sen. Lummis