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US Senator Concerned Over Growing National Debt; Applauds Bitcoin

US Senator Concerned Over Growing National Debt; Applauds Bitcoin


Cynthia Lummis, a US senator, discussed her concerns in an interview with Hard Money’s Natalie Brunell. She praised that cryptocurrency is an asset among people for which the government is not liable.

While she is worried about the current scenario of national debt and inflation, she also feels relief that Bitcoin can never be taken back by governments. The dollar price drop raises concerns for local people to arrange their daily necessities like food and fuel. People are rushing toward the food bank to fulfill their necessities. Compared to the previous amount of food sacs, they get fewer groceries from supermarkets for the same price.

In June, the Wyoming senator also presented the Lummis-Gillibrand Responsible Financial Innovation Act alongside Senator Kirsten Gillibrand.

In this situation, people are supposed to look into long-term financial assets. This cryptocurrency that is blooming daily gives a ray of hope, especially for countries with unstable governments. Government can take their homes and property but cannot ask for bitcoin. So that’s the purest asset one can have.

With the expanding cryptocurrency market, bitcoin saw a tremendous hike last year. For obvious reasons that bitcoin is globally adapted, businesses and individuals look forward to earning, transacting, and gambling with bitcoin.

Unlike traditional banks, crypto banking does not hold your money for days. It allows investing, holding a balance, and making easy payments using a crypto debit card. It gives a quick transaction facility to the users. Crypto Gaming is a blockchain form of gaming where the players can get information about the game assets uniquely and allow users to sell them using digital currencies. In short, crypto gaming is another way to earn money. Bitcoin has soon become a hub for gamblers. The maximum hunt for the best crypto casinos is made nowadays. Its quick and easy trading feature has provided a path for the dark world.

As per the increasing crowd seen in the global market, top merchants are allowing payment options like Bitcoin and Altcoins to consumers. The digital process is faster for deposits and withdrawals than traditional banking. Within a few seconds, the transaction is done. It is more secure than other online bank transactions. A Bitcoin wallet is only accessible to the owner. No personal credentials are asked for trading and purchasing.

Moreover, its P2P (peer-to-peer) facilities attract more retailers and consumers. It allows transacting directly between buyer and seller faster and cheaper.

Furthermore, being beneficial as a long-term investment in a big amount, a  stream of investors is directed towards cryptocurrency.

Apart from operating in traditional currencies like USD, Casinos have started accepting bitcoins for transaction purposes. Having numerous benefits, bitcoins are widely used in the gambling industry. Online games make it easier to transact globally without restrictions on the amount transferred. From casinos to gambling games, online lotteries to sports-based betting, the luster never fades to gamblers.



Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.

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