U.S. Senator Buys The Dip, Comforting News For Bitcoin?

Cynthia Lummis is an outspoken supporter of crypto.

The Wyoming Senator recently made headlines with her roughly $100,o00 purchase of Bitcoin.

A lot of investors have been spooked by the limbo we currently find ourselves in, and fears over the pending infrastructure bill have throttled markets recently.

It’s comforting to see Senators still buying up Bitcoin amid all the uncertainty in the coming weeks, and maybe this should give investors reason to pause, and consider if they are freaking out for no reason.

If politicians in the know are buying Bitcoin, then maybe it isn’t all doom and gloom for the crypto markets after all.

Here’s more on her financial disclosure and BTC position:

CRYPTO NEWS: U.S. Senator Cynthia Lummis of Wyoming purchases up to $100,000 of #Bitcoin

Washington, known for its mixed and sometimes hostile attitude toward cryptocurrency, is being lobbied by $HOGE and the @HogeLobbyist to educate lawmakers on the promising new technology. pic.twitter.com/4HssqcMKSD

— 🗞 The Daily Hoge (@DailyHoge) October 8, 2021

Senator @CynthiaMLummis, a Republican from Wyoming, has revealed a sizable #Bitcoin purchase, adding as much as $100,000 worth of crypto to her stash.https://t.co/dECEEU3p75 by @aasmakov

— Decrypt (@decryptmedia) October 8, 2021

Coin Telegraph had more on Lummis’ recent purchase:

United States Senator Cynthia Lummis, a Republican from Wyoming, has revealed that she purchased Bitcoin (BTC) worth between $50,001 and $100,000 on Aug. 16, according to documents filed on Thursday.

The disclosure was part of the Stop Trading on Congressional Knowledge, or STOCK, Act, which prohibits the use of non-public information for profit.

Senator Cynthia Lummis discloses a bitcoin purchase worth up to $100,000. Look for states to compete on legislation like with sports gambling, but crypto will catalyze more high paying jobs and new industry dev. BTC to exceed $GOOG market cap by Q1 2022. https://t.co/2xyti27e5L

— Paul Chu (@paulchu_og) October 7, 2021

That smile🥰 #RT is you are as optimistic towards #BTC as U.S. senator Cynthia Lummis !#Bitcoin #Crypto #Cryptocurrency pic.twitter.com/1hSqX920WJ

— BitYard – Grow Your Future in the Yard (@BitYard_Global) August 13, 2021

Crypto Globe continues:

As Markets Insider reports, this isn’t the first time Lummis bought BTC. In June, the Senator encouraged people to diversify their retirement portfolios with a small allocation to the cryptocurrency, and said she held 5 BTC.

Those coins were at the time worth $170,000 and are now worth over $270,000.

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