• Bitcoin is aligned with American values, according to a US lawmaker, and will strengthen the dollar

  • 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.”

    Rep. Pete Sessions believes Bitcoin has merit.

    This week, U.S. Representative Pete Sessions tweeted multiple times about bitcoin. Sessions has served in the United States House of Representatives for 11 terms, representing Texas’ 17th Congressional District.

    He tweeted on Friday that bitcoin is in line with American principles and would help to boost the currency.

    Many Twitter users retweeted the congressman, expressing a variety of viewpoints. Some people agreed with him that Bitcoin is aligned with American values, but they disagreed that it will bolster the dollar.

    “Thank you for your leadership and support,” the Chamber of Digital Commerce said to Sessions. “We couldn’t be more in agreement!” “Pete gets it,” said Eric Weiss, founder of Blockchain Investment Group. Darin Feinstein, the founder of Core Scientific, told Sessions that he is “100% correct.”

    “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.

    “Bitcoin is consistent with American principles, the dollar is not,” another Twitter user stated. 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. The Texas lawmaker went on to say:

    Bitcoin is gaining popularity as a more resilient alternative to fiat currency inflation.

    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. “We need to be on your side.”

    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 as his crypto technical working group’s top economic development and energy infrastructure advisor in February.

    What's your reaction?