U.S. Congressman Pete Sessions says that Bitcoin is “aligned with American values,” and predicts that the cryptoasset will work to strengthen the dollar.
According to a report by Bitcoin.com, Sessions, a Representative from Texas who has served in the House of Representatives for 11 terms, published a tweet on March 18 claiming that Bitcoin was in lockstep with American values.
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Representative Sessions’s tweet was met with praise from community members and crypto supporters, with most agreeing that Bitcoin would have a positive influence. Some argued that Bitcoin would replace the U.S. dollar rather than strengthen it, while others pleaded with the Congressman to push for more clear legislation on cryptoassets.
Morgan Creek Digital Assets co-founder Anthony “Pomp” Pompliano agreed with Session’s statement, writing that Bitcoin embodies the “American ethos of free markets and free speech.”
New York Times bestselling author Mark Jeffrey, who wrote the 2014 book Bitcoin Explained Simply, petitioned for the U.S. Treasury to begin stockpiling bitcoin reserves “immediately.” Jeffrey tagged President Joe Biden and Treasure Secretary Janet Yellen in his tweet.
Sessions had published a tweet on March 15 where he suggested that Bitcoin could be a goodhedge against inflation. The Texas Representative called inflation a “taxation” on every American and noted that the Consumer Price Index (CPI) rose 7.9% through February, constituting the fastest pace of annual inflation in 40 years.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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