Republican Senator Cynthia Lummis, who is one of the supporters and staunch investors of the cryptocurrency Bitcoin (BTC), has encouraged the people of the United States (US) to invest in the digital asset as their retirement savings.
Although the crypto market has faced bitter events and caused price movements of digital assets including exchange companies that were destroyed overnight, Lummis remains confident in his investment in BTC.
Meanwhile, BTC, which has a limited maximum limit of 21 million, is also the reason Lummis is more interested in the digital asset as he believes the USD valuation will jump again.
Lummis sees his plan to add BTC in a 401(k) plan* to bring success in the future.
*Retirement savings plans offered by most American employers that have tax advantages for savers
But it should also be noted that there are a handful of US politicians who disagree with Lummis' views on pension fund investments in BTC, among them Senator Warren who questioned Fidelity's decision.
This follows because the following decision wants to allow investors to enter a certain amount of BTC in the plan, but Warren thinks that the digital asset is a mere gamble because it is capable of risking millions of US citizens' retirement savings.
It is also reported that Lummis will discuss with the United States Securities and Exchange Commission (SEC) regarding crypto bills that are able to protect users and set taxation standards.
He emphasized that officials should play an important role in developing digital currencies such as BTC as the US dollar will lose its value at any time.
