US Senator Cynthia Lummis discloses BTC purchase worth up to $100,000
U.S. Senator and bitcoin supporter Cynthia Lummis bought her first cryptocurrency in August 2021 for between $50,001 and $100,000, according to the periodic transaction report.
The politician used the services of brokerage River Financial to purchase the asset.
Lummis became a Wyoming state senator in 2020. At the time, she said she first invested in bitcoin in 2013, when the coin was worth about $300.
AWESOME NEWS for #crypto folks from the crazy US election tonight—@CynthiaLummis won #Wyoming’s US Senate seat!! The US Senate now has an unabashed #bitcoin supporter & HODLer (since 2013) among its ranks!! CONGRATS Cynthia! @willcole @CynthiaMLummis 🤠🚀🔥 pic.twitter.com/8SCF9pkRSg— Caitlin Long 🔑 (@CaitlinLong_) November 4, 2020
Before being elected to the Senate, Lummis served as Wyoming's treasurer. In 2019, the state passed legislation equating cryptocurrencies with money.
Wyoming passed a bill that allows for cryptocurrencies to be recognized as money.— XRPcryptowolf (@XRPcryptowolf) February 1, 2019
The bill authorizes banks to provide custodial services for digital assets
The bill will go in effect on Mar 1$XRP can be classified & used along with banks holding it #XRP https://t.co/4Cg3oJUJm6
The senator had previously called for transferring some retirement savings into Bitcoin.
“I would like to see a cryptocurrency, like #bitcoin, become part of a diversified asset allocation. That are used in retirement funds and other opportunities for people to save for the future.” - US Senator Cynthia Lummis@CynthiaMLummis @SenLummis pic.twitter.com/kMvmlrKH2J— Neil Jacobs (@NeilJacobs) July 1, 2021
Earlier in September, Lummis said that Stablecoin reserves should be 100% cash and cash equivalents.