Former Republican Congressman and current Bitcoin holder Cynthia Lummis has won a seat in the US Senate against Democratic challenger Merav Ben-David.
According to a Nov. 4 report from Fortune, Lummis was an early adopter of Bitcoin (BTC), with the first purchased the cryptocurrency in 2013 thanks to a tip from her son-in-law, Will Cole. Cole has served since December 2019 as Chief Product Officer at blockchain financial services provider Unchained Capital.
“Cynthia believes in the philosophy behind Bitcoin, not just that it is a new asset class,” said the founder and CEO of financial firm Avanti Caitlin Long. She later tweeted that Lummis wants to defend Bitcoin ‘against federal infringement’.
Lummis, who reports With 73.1% of the vote, Ben-David will act as legislator on a state that highly accepts crypto-friendly institutions.
San Francisco-based crypto exchange Kraken became the first cryptocurrency company to receive a charter to operate as a bank in the United States through the State Banking Board of Wyoming. Last week, Avanti announced that the same board had given it unanimous approval to launch a crypto-friendly bank under the name Avanti Bank & Trust.
The University of Wyoming announced on November 2, it would launch a center for blockchain and digital innovation, giving university students more opportunities to study cryptocurrency and blockchain technology.
The Republican Senator’s BTC holdings make her one of the few representatives in Congress to own cryptocurrency. Some representatives, including Darren Soto, Florida Congressman personally accept contributions in crypto, while the Political Action Committee of the Chamber of Digital Commerce launched an initiative in October to donate $ 50 BTC to campaigns for every congressman as part of his efforts to advance crypto awareness.
Lummis served as the sole congressional district representative for the state of Wyoming from 2009 to 2017. She will replace outgoing Republican Senator Mike Enzi.