Amid news of US President Joe Biden signing legislation to increase the government debt limit to $28.9 trillion, Senator Cynthia Lummis has said that Bitcoin (BTC) is God’s blessing.
Senator Lummis delivered a speech to the Senate on Thursday. She gave her perspective on how cryptocurrencies like Bitcoin can help countries like the US deal with the impending crisis when states run out of cash.
Lummis sayOne of the reasons she is interested in non-fiat cryptocurrencies like Bitcoin is because they are not issued by the government. So don’t stick with that debt. “Managed by the government” such as the United States.
Because cryptocurrencies Not attached to government and political elections They should grow and will continue to exist. And it will help preserve people’s money value in the event of a government failure, Lummis said.
“Time after time where the presidents of both sides irresponsibly increased their debt And there are no plans to deal with this. Thank God for Bitcoin and other non-fiat currencies that are beyond government responsibility. This includes our own.”
the president of the united statessign inThe law temporarily increases the government’s debt ceiling. It increased state borrowing limits to push the deadline for defaults until December. The law would increase the debt ceiling by an additional $480 billion to $28.9 trillion through Dec. 3 from the current $28.4 trillion.
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