US Lawmaker Says Bitcoin is Aligned with American Values. This Will Strengthen Dollar

He also noted that bitcoin is "trending to be more resilient to hedge against fiat currency inflation."

Rep. Pete Sessions sees merit in Bitcoin

U.S. Representative Pete Sessions has tweeted several times about bitcoin this week. Sessions is the representative of Texas' 17th Congressional district and has served 11 terms in the U.S. House of Representatives.

He wrote Friday that bitcoin aligns with American values and will help strengthen the U.S. Dollar.

Many people on Twitter responded to the lawmaker, expressing many opinions. While many agreed with him that Bitcoin aligned with American values, others disagreed that the cryptocurrency would strengthen the U.S. Dollar.

Sessions was retorted by the Chamber of Digital Commerce: "Thanks for your leadership and support... We couldn’t agree more!" Blockchain Investment Group founder Eric Weiss stated that "Pete gets It." Core Scientific founder Darin Friedstein said to Sessions that he is "100% right."

Anthony Pompliano, co-founder of Morgan Creek Digital Assets wrote: "Bitcoin embodies American ethos free markets and freedom speech." He tweeted that President Joe Biden was being tagged with Treasury Secretary Janet Yellen.

Another user on Twitter stated, "Bitcoin aligns with American values, but the dollar isn't." Many people stressed that bitcoin would destroy the U.S. Dollar.

Sessions tweeted earlier this week about bitcoin as a hedge against inflation. He wrote that inflation is taxation on all Americans, pointing out that the CPI rose 7.9% through February, which was the fastest annual inflation rate in 40 years.

Bitcoin is becoming a more resilient option to hedge against inflation in fiat currencies.

After six top executives from major crypto companies testified before Congress, Sessions called for support of the industry in December 2017. Sessions commented on the hearing saying, "I am tremendously impressed." Sessions is a great example of ingenuity and entrepreneurship. You need our support."

The lawmaker then tweeted:

I hope Congress will support the digital asset market as it grows to ensure that Americans are successful and a leader on the global stage.

Sessions appointed Himanshu B. Patel, an Indian-American Indian economist, as chief economic development advisor and energy infrastructure advisor to his crypto technical group in February.