Cynthia Lummis bought Bitcoin for the first time in 2013.
Former Republican Congresswoman and current Bitcoin hodler, Cynthia Lummis, won a U.S. Senate seat against Democratic nominee Merav Ben-David.
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According to a Nov. 4 report from Fortune, Lummis is part of the select group of Crypto Engine early adopters (BTC), buying the cryptomoney for the first time in 2013 thanks to a tip from his son-in-law, Will Cole. Cole has served as Product Manager at the financial services firm blockchain Unchained Capital since December 2019.
„Cynthia believes in the philosophy behind Bitcoin, not just that it’s a new asset class,“ said Avanti financial firm founder and CEO Caitlin Long. Tweeting later that Lummis wants to defend Bitcoin from „the federal invasion.
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Lummis, who defeated Ben-David with 73.1% of the vote, will act as legislator for a state that has always had its arms open for institutions that are in favor of cryptomonies.
Kraken, a San Francisco-based crypto currency exchange, became the first crypto currency company to receive a license to operate as a bank in the United States through the Wyoming State Banking Board. Last week, Avanti announced that the same board had given it unanimous approval to launch a crypto-bank under the name of Avanti Bank & Trust.
The University of Wyoming announced on November 2 that it would launch a Center for Blockchain and Digital Innovation that will allow college students more opportunities to study cryptospeed and Blockchain technology.
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The Republican Senator’s BTC holdings make her one of the few representatives in the U.S. Congress to own cryptomoney. Some representatives, including Florida Congressman Darren Soto, are personally accepting crypto-currency contributions, while the Digital Chamber of Commerce’s Political Action Committee launched an initiative in October to donate $50 in BTC to congressional candidates as part of their efforts to raise awareness and promote the use of crypto-currency.
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Lummis was the representative of the only congressional district for the state of Wyoming from 2009 to 2017. He will replace outgoing Republican Senator Mike Enzi.