Buy & Hold Bitcoin for retirement says Senator Cynthia Lummis


At the recent CNBC financial advisor summit, Senator Cynthia Lummis says - "I encourage people to buy and hold. I encourage them to say bitcoin for their retirement, for their future, and that's because as the congress spends trillions and trillions of dollars and is flooding our economy and the world economy with u.s dollars. There's no way that we cannot debase the value of the US dollars."

Senator Cynthia Lummis

Senator Cynthia Lummis is a huge advocate for bitcoin, and crypto, not only personally into it but also writing policy for it she was just advocating for buying and holding bitcoin for the long term, and again, it's not just her rhetoric she's living this.

Cynthia Lummis practices what she preaches she's an investor in bitcoin as well. Senator Cynthia Lummis added - "I buy bitcoin and I hold bitcoin."

You buy bitcoin?
- oh yeah,
you have bitcoin?
- I do.
how much bitcoin do you have?
- well, i only have i think 5 bitcoin.

She bought them in 2013 for about 300 dollar each, so she can now add a couple of zeros to that number. Wyoming is in the process of setting up its own crypto banking system.

So in the short term, bitcoin is going down. Bitcoin broke below twenty thousand dollars and is still just a hair under twenty thousand dollars today. The reason that Cynthia Lummis and many advocate for buying and holding is because the people who have been in the market for longer periods of time understand the chart. Where in the short term sometimes the bitcoin chart looks into red, but over longer periods of time the bitcoin chart looks in upword direction. This is a chart of bitcoin zoomed out and using the average four year price.

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