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Former Republican Congressman and current Bitcoin holder Cynthia Lummis won a seat in the US Senate against Democratic challenger Merav Ben-David.
According to a November 4 Fortune report, Lummis was one of the first to adopt Bitcoin (BTC), having bought the cryptocurrency for the first time in 2013 thanks to a suggestion from her son-in-law, Will Cole. Cole has been Chief Product Officer at blockchain financial services firm Unchained Capital since December 2019.
“Cynthia believes in the philosophy behind Bitcoin, not just that it is a new asset class,” said Caitlin Long, founder and CEO of the financial company Avanti. Her later tweeted that Lummis wants to defend Bitcoin “from federal invasion”.
Lummis, who defeated Ben-David with 73.1% of the vote, will act as a lawmaker in a state that has been very accepting of crypto-friendly institutions.
The San Francisco-based cryptocurrency exchange Kraken became the first cryptocurrency business to receive a card to operate as a bank in the United States through the State Banking Board of Wyoming. Last week, Avanti announced that the same board of directors had unanimously approved the launch of a crypto-friendly bank under the name Avanti Bank & Trust.
The University of Wyoming announced on November 2 that it will launch a Center for Blockchain and Digital Innovation that will offer college students more opportunities to study cryptocurrency and blockchain technology.
The Republican senator’s BTC holdings make her one of the few representatives in the US Congress to own cryptocurrency. Some representatives, including Florida Congressman Darren Soto, personally accept cryptocurrency contributions, while the Digital Chamber of Commerce’s Political Action Committee launched an initiative in October to donate $ 50 BTC to campaigns for every congressman. as part of its efforts to promote cryptocurrency awareness.
Lummis was the only Congressional District Representative for the state of Wyoming from 2009 to 2017. She will replace outgoing Republican Senator Mike Enzi.
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