United States Senator Cynthia Lummis from Wyoming took advantage of the deeply discounted Bitcoin ( BTC ) price this week and added to her holdings.
Lummis stated Wednesday to Fox News that she is "excited" to purchase the Bitcoin dip in the wake of another significant price correction for crypto assets.
Lummis answered a question about Bitcoin's rapid decline in price:
"I'm excited about it because it drops a little, so I'll buy more."
Lummis said that Bitcoin's decline was similar to the performance of United Rentals, one of her favourite stocks. Lummis stated that she bought United Rentals and it fell like a rock. She said that she held on to it and it has performed wonderfully over the years.
"I see Bitcoin doing exactly the same thing, because the fundamentals of Bitcoin are good."
Lummis is a vocal advocate for Bitcoin in the U.S. Senate. To educate other lawmakers about Bitcoin and other cryptocurrency, Lummis created the Financial Innovation Caucus earlier this year. Lummis stated that she would work with the caucus in order to correct false narratives regarding cryptocurrencies, such as their association with money laundering or other financial crimes.
Cointelegraph reported that Senator Lummis was at this year's Bitcoin2021 conference in Miami. She discussed the importance and necessity of encouraging crypto innovation. In a panel titled "Bringing Bitcoin Innovation Home To America", Representative Warren Davidson from Ohio joined her.
The Bitcoin price seems to have found support at $30,000 after falling below $29,000 earlier in the week. The digital currency was at $33,700, up 5.5% as of the time this article was written.