US Congressman Pete Sessions says Bitcoin is “in line with US values” and predicts the crypto-asset will help strengthen the dollar.
According to a report by Bitcoin.com, Sessions, a representative from Texas who served in the House of Representatives for 11 terms, posted a tweet on March 18 claiming that Bitcoin was in tune with American values.
Representative Sessions’ tweet was praised by community members and crypto supporters, with most agreeing that Bitcoin would be a positive influence. Some argued Bitcoin would replace the US dollar rather than strengthen it, while others pleaded with the congressman to push for clearer crypto-asset legislation.
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, asked the US Treasury to start storing bitcoin reserves “immediately”. Jeffrey tagged President Joe Biden and Treasury Secretary Janet Yellen in his tweet.
Sessions had posted a tweet on March 15 where he suggested Bitcoin could be a good hedge against inflation. The Texas representative called inflation a ‘taxation’ for every American and noted that the consumer price index (CPI) had risen 7.9% through February, constituting the pace of annual inflation fastest in 40 years.
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