US Senator Cynthia Lummis says we (Bitcoiners) are back

Cynthia Lummis raised her next support level for the Bitcoin & Crypto sector in her way, to fight against the crypto road bumps.

Cynthia Lummis is a U.S. Senator from Wyoming. 69-year-old US Senator known for her strong advocacy for Bitcoin. She views Bitcoin as a reliable store of value and a hedge against inflation and promotes its potential to revolutionise the financial system. As a member of the Senate Banking Committee, she supports creating a regulatory environment that encourages innovation in the cryptocurrency sector while protecting consumers.

On 16 May 2024, The Senate voted 60-38 to pass a law that cancels the SEC’s rule (Bulletin 121) which makes it very costly for financial institutions to be involved in holding and managing cryptocurrencies.

Passed, 60-38: Passage of H.J.Res.109, Lummis SEC Staff Accounting Bulletin CRA.

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— Senate Cloakroom (@SenateCloakroom) May 16, 2024

Today, Cynthia shared her laser eye image, a well known sign for the Bitcoin community to show support for Bitcoin, to show support for Bitcoin supportive legislation.

We are so ₿ack. pic.twitter.com/ckHmXMHFL8

— Senator Cynthia Lummis (@SenLummis) May 16, 2024

Popular Bitcoin media BitcoinMagazine reported that US Senator Cynthia is now more bullish on Bitcoin, following the successful attempt at the initial level to allow financial institutions to hold Bitcoin.

JUST IN: US Senator Cynthia Lummis says "We are so ₿ack" after voting for bill that would allow highly regulated financial firms to custody #Bitcoin and crypto pic.twitter.com/amM7Uck3x5

— Bitcoin Magazine (@BitcoinMagazine) May 16, 2024

Bitcoin price action 

The current trade price of Bitcoin (BTC) is $65,321 & this price is 50% higher year to date (YTD). 

#Bitcoin $65,620 pic.twitter.com/QJZRbs3YTr

— Bitcoinik (@Bitcoinikdotcom) May 16, 2024

In the last couple of days, the trade price of Bitcoin surged rapidly by 7%, following the news related to the US CPI rate. 

In this phase of Bitcoin bull run, the majority of the big players are accumulating Bitcoin, as Bitcoin is now out of the post-halving phase to show exponential pump by 100% in the next 12 months. 

Read also: American Central Bank president slammed Bitcoin but says it has little use case

US Senator Cynthia Lummis says we (Bitcoiners) are back

 

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