US Senator and cryptocurrency advocate Cynthia Lummis is inviting Bitcoin miners to set up operations in the state of Wyoming.
On his official Twitter account, Cynthia lummis, the first woman to represent the state of Wyoming in the United States Senate, and a crypto investor, invited Bitcoin network miners, who are leaving China forced by strong regulations, to settle in said state, which currently leads the crypto industry with regulations that favor its growth and development in the North American nation.
“We LOVE you in Wyoming”, were the words of Senator Lummis on Twitter, emphasizing that mining cryptocurrencies, as Bitcoin is not a negative activity for the planet, as some would have us believe.
Lummis, who participated in the CNBC Financial Advisors Summit, said that Bitcoin (BTC) It is the most efficient way to use energy in the world. The first successfully created and currently the most powerful cryptocurrency in the industry, the cryptocurrency offers a decentralized, autonomous and accessible financial system for everyone on a global level, providing great benefits to all its participants. This cryptocurrency is a great option for investors to diversify their portfolios amid the inflation of fiat currencies.
On the other hand, Wyoming is, so far, the US state with the most favorable regulation for the development of the cryptocurrency industry, including the mining of these assets. Therefore, the pro-crypto senator invited the network's miners to test the benefits that Wyoming has to offer in the area.
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United States, new crypto destination
The North American nation, which is the world's leading power, is becoming one of the most promising destinations for the development of cryptocurrencies. The strong repressions that the Chinese government is currently imposing against Bitcoin and other cryptoasset miners are forcing them to close their operations and migrate from the country, in search of jurisdictions that are friendlier to their activity.
Lummis' initiative follows calls by Miami Mayor Francis Suarez, who is determined to turn the city into a benchmark in this industry. Suarez has saying that Miami will become a powerful Bitcoin mining center, powered by 100% carbon-free nuclear energy, with the capacity to provide clean energy to companies participating in this industry, and even to open new mining centers in the city.
Many of the miners leaving China are headed to the United States. Texas, located in the south of the country, is also among the favorite destinations for Bitcoin miners.
Payments, mining, investing and more
In addition to cryptocurrency mining, several American political leaders are promoting the adoption of cryptocurrencies as a means of payment and as investment assets, due to their potential for appreciation over time.
In Miami, for example, Francis Suarez wants to create legislation that allows his employees' salaries to be paid in bitcoin, whenever they want. In addition, the mayor wants to invest part of the city's treasury in this cryptocurrency. On the other hand, in North Dakota, citizens of the city of Williston can use their crypto assets to pay for utilities. The same in Colorado, which is promoting a law to allow its citizens to use cryptocurrencies and digital assets to pay state taxes.
Cynthia Lummis is also promoting the use of bitcoin as an investment asset in retirees’ portfolios. The senator said bitcoin should become a part of the asset allocation used in retirement funds for retirees, offering a diversified investment alternative for people to save for the future.
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