Note that Cynthia Lummis not only supports cryptocurrencies, but also actively invests in them. As she revealed earlier, the official bought her first bitcoins back in 2013 – and didn’t stop there.

Specifically, in June, she invested in Bitcoin and Etherium for the equivalent of up to $15,000 in each position. This is evident in the official document in which public figures report on their financial decisions.

Cynthia Lummis’ investments in cryptocurrencies in summer 2021

Another investment took place in August. At the time, Cynthia invested between $50,000 and $100,000 in Bitcoin. Moreover, she did it at the exchange rate of the main cryptocurrency at $47 thousand, which means that the politician definitely has more than a whole BTC at her disposal.

Cynthia Lummis investments in cryptocurrencies in August 2021

What are the benefits of cryptocurrencies

As we’ve already noted, Lummis has been interested in the issue of digital assets for quite some time. According to her, her great interest in Bitcoin stems from the fact that the cryptocurrency is not issued by the government and is, in fact, completely independent of it. This frees Bitcoin from “government debt” and many other problems of the traditional economy.

Here’s the official’s rejoinder, in which she shares her take on what’s happening. The quote is cited by Cointelegraph.

Time and again presidents of both parties have irresponsibly increased the country’s debt without any plan to eliminate it. So thank God for Bitcoin, a currency that transcends the irresponsibility of governments, including our own.

US Senator Cynthia Lummis

A video of a moment in which Lummis extols Bitcoin was shared on Twitter by MicroStrategy CEO Michael Saylor. Here’s that post.

Aside from the Lummis quote, the week ends in anticipation of another landmark event – Bitcoin reaching a new all-time high. At the moment, the major cryptocurrency is trading around $62,000 and nothing can seem to cause it to collapse again now. Moreover, according to a cryptocurrency enthusiast under the pseudonym TechDev, the $60,000 level can already be considered a new “low” for the cryptocurrency.

He came to this conclusion after comparing the current bullish trend to previous BTC price cycles. TechDev argues that once the crypto industry begins a new bearish trend, Bitcoin’s value is unlikely to drop below $60,000. He has published a cycle comparison chart to prove his hypothesis.

TechDev’s graph

From TechDev’s prediction, we can also infer a potential high for Bitcoin, which is the $300,000 line. If the current bullish trend is similar to the previous one, the main cryptocurrency will grow to that exact line before we can talk about a new global crypto market decline.

Once again, most predictions in an area as innovative as cryptocurrencies do not come true. However, it is impossible to predict the development of an industry that is influenced by hundreds of factors. So, in this case, you should only trust your own market analysis and make your own financial decisions. Analysts evaluate possible developments based on previous events - and they do not have to be repeated.

Growth in Bitcoin and other cryptocurrencies

That said, there are more than enough positives in the digital asset niche. In particular, on Friday night to Saturday, the long-awaited approval of a Bitcoin futures ETF in the US by ProShares became known. The Securities and Exchange Commission has approved the first cryptocurrency ETF in the state – and this could be considered an important step for the spread of digital assets. Trading in the new instrument will start on Monday.

SEC decision on Bitcoin ETF


We believe that having such a fan of cryptocurrencies in the highest levels of government is good for the reputation of digital assets. Certainly Bitcoin has a lot of advantages over conventional money. Still, they can't be issued in any volume at a higher rate - hence the ability to resist general inflation around the world. So there will probably be more and more coin lovers in the future.

What do you think about it? Share your opinion in our Millionaire Crypto Chat. There we will talk about other topics related to blockchain and decentralisation.