US senator advises buying Bitcoin for retirement

Bitcoin has taken a beating lately, but it’s still getting plugged by crypto evangelists — including a US Senator.

On Tuesday, US Sen. Cynthia Lummis, a Republican from Wyoming, said she encourages investors to buy Bitcoin as a way to help them diversify their retirement holdings.

“For me, I see bitcoin as a great store of value,” Lummis said at the CNBC Financial Advisor Summit. “I buy bitcoin and I hold bitcoin.”

Lummis was quick to add, “I don’t want everybody putting all their money in Bitcoin just like I don’t want everybody putting it in dollars and putting it under a mattress.”

The senator has taken a bullish approach to Bitcoin and has even pushed for the Federal Reserve to create its own digital currency to serve as a check against inflation. She’s also partnered with Senator Kyrsten Sinema to create the Financial Innovation Caucus.

In a statement to The Post an aide said, “For Senator Lummis, the digital asset push is a recognition that we need to bring our financial system into the 21st Century.”

The notoriously volatile cryptocurrency was recently off 5.9 percent at 34,288.10, according to Coindesk.

This article originally appeared on NY Post.


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