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'I just don't want us to mess this up': Senator Lummis on bitcoin

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Yahoo Finance's Jessica Smith spoke to Senator Cynthia Lummis about bitcoin and why she's launching a financial innovation caucus to focus on digital assets and emerging financial technologies.

Video Transcript

JESSICA SMITH: Well, I talked to Senator Lummis of Wyoming earlier today, and she is actually a big Bitcoin fan. She is the first senator that we know of that owns Bitcoin, and she told me today she's going to hold on to it. She comes from a state that is very Bitcoin, cryptocurrency friendly, and she's hoping to focus on this issue as she serves in Congress. She's a brand new senator, just started this year. She's on the Senate Banking Committee, and she says this just not enough-- enough understanding or appreciation of cryptocurrency in Washington, and she wants to change that. Let's watch.

CYNTHIA LUMMIS: I-- I just don't want us to mess this up, because I see it as so helpful in terms of being a store of value for everyday Americans going into the future that I'd hate to see government that is accustomed, because it has a fiat currency, to regulating feel that it's going to be a better regulator than the innovators who created Bitcoin and continue to nurture it.

JESSICA SMITH: On Twitter, the senator also invited Elon Musk to move to Wyoming because of his big Bitcoin purchase. She said that she is trying to send the message that Wyoming is a perfect place for people who are bullish on Bitcoin. She said she has not gotten an answer from him yet. She hasn't heard anything back from him, but she told me she is dying for a dialogue. So we'll keep you updated on that one.