Bitcoin

Bitcoin-Embracing Congresswoman Wins Wyoming Senate Race

By Landon Manning

Amidst the chaos of the U.S. 2020 Presidential election, former Congresswoman from Wyoming Cynthia Lummis won the race for a Senate seat, making her the highest-ranking elected official in the nation’s history who is also an outspoken advocate for Bitcoin.

This Republican politician has based her campaign largely on a self-described alignment with Trump’s camp, espousing a firm belief in “an America first style of politics.” However, Lummis does break from Republican orthodoxy as an outspoken supporter of bitcoin, which she has held since 2013.

Apparently, Lummis’ main attachment to the number one cryptocurrency is her belief that it can serve as a durable store of value. As Decrypt reported, Lummis told attendees that “We cannot continue to debase our currency and expect that the American workers’ wages and savings will be unaffected” at the Wyoming Blockchain Stampede in September, and she believes that the stability provided by bitcoin can help provide an antidote to difficulties that the U.S. dollar has faced. 

The state that she represents, Wyoming, has achieved notoriety over the last few years for its conscious attempts to grow the cryptocurrency and blockchain industry in the state with friendly legislation. Beginning in late 2017, the state government has passed a number of bills in a steady trickle to try both to attract new businesses and to give existing ones a freer hand to operate. In September 2020, for example, the state gave cryptocurrency exchange Kraken a unique charter to begin operating as a bank. Interestingly, these advancements all took place after Lummis had left her previous seat in the U.S. House of Representatives, but she has promised that her return to public life will include support for Bitcoin.

Despite living relatively under the radar while Wyoming’s most fierce Bitcoin support went into effect, her long-term support for the cryptocurrency is clearly recognized in the state. Caitlin Long, a CEO and major mover and shaker in Wyoming’s crypto push, publicly congratulated Lummis on her victory as the first pro-Bitcoin Senator. 

Already, prominent Bitcoiners in the House of Representatives have shown enthusiasm for Lummis’ victory, claiming that a voice in both houses of the legislature could help the long push to make the government more friendly to cryptocurrency.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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