US Congressman: Bitcoin Mining Will be Beneficial for America's Energy Independence - GKnews.net

US Congressman: Bitcoin Mining Will be Beneficial for America’s Energy Independence


Pete Sessions – Congressman representing Texas’ 17th Congressional District – claimed bitcoin will be a stimulating factor in rebuilding the USA’s energy independence. Among the supporters of his opinion was the well-known BTC HODLer – Senator Cynthia Lummis.

BTC Mining to Make the USA Energy Independent

The latest US politician to air his thoughts on the cryptocurrency industry is Congressman Pete Sessions. A few days ago, the 67-year-old Republican said bitcoin is “aligned with American values ​​and will strengthen the dollar.”

Yesterday (March 21), he went further, touching upon bitcoin mining and predicting that the process will rebuild America’s energy independence.

While some users commented under his post that bitcoin mining is an environmentally harmful process for the planet and the US should restrain from it, others agreed to his concept. Somewhat expectedly, he saw support from Senator Cynthia Lummis, who retweeted Session’s statement.

It is worth noting that Lummis is among the most prominent crypto supporters and bitcoin HODLers. She purchased 5 BTC in 2013 when the price per single coin was around $300. Last summer, she topped up her holdings with up to $100,000 worth of the primary digital asset.

In October 2021, Lummis raised her concerns about the rising inflation in the States and showed her disappointment about how the American authorities failed to control the situation. However, she believes the dollar’s collapse following the financial crisis is not a fatal event thanks to the existence of cryptocurrencies:

“Thank god for Bitcoin and other digital currencies that transcend the irresponsibility of governments – including our own. That is an indictment of our responsibility to address this looming, predictable, massive issue.”

Crypto Flourishes in Texas

Over the past few months, the “Lone Star State” has emerged as the crypto mining capital of the US. This is partly due to the low prices of electricity in the area, allowing miners to operate more cheaply, and the positive stance coming from local regulators and lawmakers. One such politician is Steve Adler – the mayor of Austin, Texas.

Earlier this month proposed two initiatives to turn the city into a “global leader in the crypto space.” Those are promoting the benefits of blockchain technology and Web3 and adopting bitcoin as a payment method.

Adler described the primary digital asset as a store of value, which has enhanced security and provides instantaneous transactions “across geographical and political boundaries.” As such, embracing BTC as a means of payment for municipal taxes, fees, and penalties could be highly beneficial to Austin’s economic development.

Featured Image Courtesy of KXXV

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