Bitcoin, according to US Congressman Pete Sessions, is compatible with American values and will bolster the US currency. The legislator went on to say that bitcoin “is trending to be a more resilient alternative choice to hedge against fiat-currency inflation.”
Representative Pete Sessions of the United States of America has tweeted about bitcoin several times this week. Sessions have represented Texas’ 17th Congressional District in the United States House of Representatives 11 times.
Bitcoin will assist to strengthen the currency
On Friday, he stated that bitcoin adheres to American values and will assist to strengthen the currency.
Many others retweeted the congressman, expressing a wide range of opinions. Some respondents agreed with him that Bitcoin reflects American values, but they disagreed that it will strengthen the dollar.
“Bitcoin represents the American ethos of free markets and free speech,” Morgan Creek Digital Assets co-founder Anthony Pompliano stated. “The US Treasury should begin stockpiling bitcoin reserves immediately,” New York Times bestselling author Mark Jeffrey tweeted, tagging President Joe Biden and Treasury Secretary Janet Yellen.
Another Twitter user remarked, “Bitcoin is consistent with American beliefs, but the dollar is not.”Several people have stated that bitcoin will destroy the United States dollar.
Sessions also mentioned bitcoin as an inflation hedge earlier this week in a tweet. “Inflation is a tax on every American,” he said, noting that the Consumer Price Index (CPI) climbed 7.9% in February, the fastest rate of annual inflation in 40 years.
After the chief executives of six major crypto companies appeared before the House Committee on Financial Services in December of last year, Sessions encouraged Congress to support the industry. “I am really impressed,” Sessions said after the hearing. I see a lot of inventiveness and entrepreneurship.
Following that, the congressman tweeted:
My aim is that Congress would cooperate with the digital asset market, which is still in its infancy, to help Americans flourish and advance as global leaders.
Sessions reportedly selected Indian-American Himanshu B.Patel was appointed as the main economic development and energy infrastructure advisor to his crypto technical working committee in February.
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Source: https://www.thecoinrepublic.com/2022/03/28/bitcoin-can-be-alternative-and-is-aligned-with-american-values-u-s-congressman-pete-sessions/