According to a recent Fox Business interview with Wyoming lawmakers, Bitcoin helps people protect their savings from rising prices.
Senator Cynthia Ramis noted that digital tokens are not dependent on central banks or governments. This view comes when many Americans feel that the cost of living and the dollar is weaker.
Decentralized Money Options
Based on the report, Lummis highlighted Bitcoin’s open ledger and a hard cap of 21 million coins. She explained that these features give owners clear visibility and predictable supply.
She said the average family is looking for ways to increase their budget. She argued that Bitcoin models can provide a fresh pathway when daily costs rise.
Sen. Cynthia Lummis is shown during a Fox Business interview. Source: Fox Business.
Market numbers reflect increased demand
Bitcoin prices are approaching $118,000 after sliding 1.41% in the past day. Trading volumes exceeded $100 billion, reaching a jump of over 35% in 24 hours.
According to data from Crypto Exchanges, this busy activity shows that more people are looking closely at Bitcoin. Lummis said demand tends to rise as institutions and global investors are leaning, and can support price growth.
Institutional interests increase
Based on the numbers cited by the senators, hedge funds and major banks slowly added Bitcoin to their balance sheets. She said the trend underscores the shift from token niche assets to mainstream holdings.
It’s a far cry from the early days of Bitcoin. Today, Wall Street analysts include BTC price forecasts in their quarterly outlook.
Policy Push is intended to simplify crypto taxes
Lummis used her time at Capitol Hill to unfold a plan to stop the small crypto deal from taking a hit with two tier taxes.
The proposed minimum rule exempts transactions under $300. The bill is supported by the team of US President Donald Trump and shows support to ease rules regarding microtrading. Lummis said the change would clear the path for people buying basic goods with Bitcoin.
The broader vision of lawmakers
The senators also sponsor the Bitcoin Act. This is a measure for the US to purchase up to 1 million BTC over five years.
Critics are worried about putting many of the digital tokens in government books. Supporters say it will create a national reserve and show confidence in a new form of money.
Unsplash featured images, TradingView charts
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