The post Bitcoin Is “Freedom Money” and “Lifeline for Americans,” Says U.S. Senator Cynthia Lummis appeared first on Coinpedia Fintech News
U.S. Senator Cynthia Lummis has called Bitcoin “freedom money,” praising it as a hedge against inflation and a tool for financial independence. Her remarks come amid growing interest in Bitcoin as a stable store of value, especially during times of economic turbulence.
Bitcoin as a Lifeline in Tough Times
Appearing on Fox Business, Senator Lummis explained that Bitcoin offers Americans a safeguard against the erosion of the U.S. dollar. With inflation weighing down purchasing power, she positioned Bitcoin as a transparent, decentralized alternative that empowers individuals to regain control over their finances. The key appeal, she says, lies in Bitcoin’s fixed supply of 21 million coins, which contrasts with the unlimited printing of fiat currency.
Lummis stressed that Bitcoin doesn’t rely on central banks or government control, making it attractive to those wary of traditional monetary policy. As inflation rises and uncertainty spreads, she believes more people will turn to Bitcoin as a form of financial shelter.
Pushing Crypto Policy in Washington
Lummis continues to lead crypto-friendly efforts in Congress. She’s actively advocating for legislation that supports the use of digital assets, including a proposed tax bill that removes double taxation on Bitcoin transactions and adds a de minimis exception for purchases under $300. Her broader ambition includes the BITCOIN Act, which would mandate the U.S. government to acquire up to 1 million BTC over five years.
The upcoming White House crypto policy report, due July 30, is expected to reference her initiatives as progress toward establishing a U.S. Strategic Bitcoin Reserve.
Crypto Reaction
At the time of her comments, Bitcoin was trading around $116,609, down 1.67% on the day, but showing strength in volume with over $104 billion traded in 24 hours, a sign that interest remains strong despite price fluctuations. For Lummis, this price action reflects growing institutional and global demand for Bitcoin as a resilient and borderless asset.