US Congressman Pete Sessions said bitcoin is aligned with US values and will strengthen the US dollar. The lawmaker further noted that cryptocurrency “tends to be a more resilient alternative option to hedge against fiat currency inflation.”
Representative Pete Sessions sees merit in Bitcoin
US Representative Pete Sessions has tweeted about bitcoin several times this week. Sessions represents Texas’ 17th congressional district and served 11 terms in the United States House of Representatives.
On Friday, he wrote that bitcoin is aligned with US values and will strengthen the US dollar.
Many Twitter users responded to the legislator expressing a wide range of opinions. Some agreed with him that BTC was aligned with US values, but disagreed that the cryptocurrency would strengthen the US dollar.
The Digital Chamber of Commerce responded to Sessions, “Thank you for your leadership and support… We totally agree!” Blockchain Investment Group founder Eric Weiss said, “Pete understands. Core Scientific founder Darin Feinstein told Sessions he was “100% right.”
Morgan Creek Digital Assets co-founder Anthony Pompliano wrote, “Bitcoin embodies the American ethos of free markets and free speech.” New York Times best-selling author Mark Jeffrey suggested, “The US Treasury should start stockpiling bitcoin reserves immediately,” tagging President Joe Biden and Treasury Secretary Janet Yellen in his tweet.
Another Twitter user said: “Bitcoin is aligned with US values, the dollar is not.” A number of people have pointed out that bitcoin will destroy the US dollar.
Sessions also tweeted that bitcoin was an inflation hedge earlier this week. “Inflation is a tax on every American,” he wrote, pointing out that “the CPI rose 7.9% through February – the fastest pace of annual inflation in 40 years.” . The Texas legislator added:
Bitcoin tends to be a more resilient alternative option to hedge against fiat currency inflation.
In December last year, Sessions urged Congress to support the crypto industry after senior executives from six major crypto companies testified before the House Committee on Financial Services. Commenting on the hearing, Sessions said, “I’m extremely impressed. I see a lot of ingenuity, a lot of entrepreneurship. We must support you.
The lawmaker then tweeted:
I hope Congress will work with the digital asset market in its early stages to help Americans thrive and advance us as leaders on the world stage.
In February, Sessions reportedly appointed Indian-American Himanshu B. Patel as chief economic development and energy infrastructure adviser for its crypto technical working group.
What do you think of Congressman Pete Sessions’ comments? Let us know in the comments section below.
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