U.S. U.S. Congressman Pete Sessions claims that bitcoin aligns with American values, and will help strengthen the U.S. Dollar. The lawmaker further noted that the cryptocurrency “is trending to be a more resilient alternative option to hedge against fiat-currency inflation.”
Rep. Pete Sessions believes in Bitcoin Merit
U.S. Representative Pete Sessions posted several times about Bitcoin this week. Sessions represents Texas’ 17th Congressional District and has served in the U.S. House of Representatives for 11 terms.
His Friday post stated that bitcoin aligns with American values and will help strengthen the U.S. currency.
Numerous Twitter users responded to the lawmaker, expressing many opinions. Many people agreed with the lawmaker that BTC aligned with American values. However, they disagreed about whether the cryptocurrency would increase the value of the U.S. currency.
The Chamber of Digital Commerce replied to Sessions: “Thank you for your leadership and support … We couldn’t agree more!” Blockchain Investment Group founder Eric Weiss said, “Pete gets it.” Core Scientific founder Darin Feinstein told Sessions that he is “100% correct.”
Morgan Creek Digital Assets co-founder Anthony Pompliano wrote: “Bitcoin embodies the American ethos of free markets and free speech.” The New York Times bestselling author Mark Jeffrey suggested, “The U.S. Treasury should begin stockpiling bitcoin reserves immediately,” tagging President Joe Biden and Treasury Secretary Janet Yellen in his tweet.
Another Twitter user argued, “Bitcoin is aligned with American values, the dollar is not.” A number of people stressed that bitcoin will destroy the U.S. dollar.
Session also tweets about Bitcoin being an inflation hedge earlier in the week. “Inflation is taxation on every American,” he wrote, emphasizing that “CPI rose 7.9% through February — the fastest pace of annual inflation in 40 years.” The lawmaker from Texas added:
Bitcoin is becoming a stronger option for securing against inflation in fiat currencies.
After six top executives from major crypto firms testified in front of the House Committee on Financial Services, Sessions called on Congress to support the cryptocurrency industry. Commenting on the hearing, Sessions said: “I am tremendously impressed. You have a lot more ingenuity and entrepreneurial spirit than I do. We need to be supportive of you.”
The lawmaker tweeted the following:
It is my hope that Congress will cooperate with the digital assets market as it grows to benefit Americans and make America a leader on the global stage.
Sessions appointed Himanshu B. Pattel, an Indian-American Indian economist and advisor on energy infrastructure for his crypto working group in February.
What do you think about Congressman Pete Sessions’ comments? Comment below.
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