Cynthia Lummis (Credit: Lummis For Wyoming website)
Cynthia Lummis was the U.S. Representative for Wyoming from 2009 to 2017, and is now running for U.S. Senate. A budget hawk and founding member of the Freedom Caucus, she first bought bitcoin in 2013 after a tip from her son-in-law. She’s been an advocate ever since.
A rancher with sandy blonde hair and a warm chuckle, Lummis spoke over the phone while she was looking out her window at hundreds of heads of steer. Birds were chirping in the background. We discussed what is a good store-of-value, how she thinks about her digital assets and running a senate campaign in the midst of a pandemic. “Each of those cattle,” she said, pointing outside, “they’ve decreased by over $400 a piece because of coronavirus. We need stores of value that are decoupled from the economy.”
This interview has been edited for length and clarity.
BP: Wyoming is leading the country in integrating blockchain technology and cryptocurrencies into its banking and regulatory frameworks. What interested you in these technologies to begin with?
CL: I served eight years as Wyoming state treasurer and so I got to invest Wyoming’s Permanent Mineral Trust Fund. It’s essentially a sovereign wealth fund. I was always trying to do was find something that was a good store-of-value. Largely through my son in law and his friends I learned about bitcoin as a store-of-value. I bought my first bitcoin in 2013.