U.S. Senator, Cynthia Lummis, said she holds about five BTC today, first purchasing when the cryptocurrency was at $330. Lummis said she encourages people to “buy and hold” as a way to save for their future.
“I worry about having all of our retirement monies denominated in U.S. dollars. As part of diversification, having a very diverse asset allocation, you don’t have all your eggs in one basket,” she said. “I think one of the strongest stores of value for the long run is bitcoin.”
For now, bitcoin is the only cryptocurrency in her portfolio since it’s the only one she feels she “really understands.” Still, she acknowledged that her endorsement doesn’t mean bitcoin is the only useful crypto, saying Ethereum could have benefits as well.
