The U.S. Senator from Wyoming, Cynthia Lummis, recently championedย Bitcoinย as a future currency in an interview. Theย interviewย started with the question, โIsย Bitcoinย a currency or commodity?โ Senator Lummis quickly and confidently responded:
โI own [Bitcoin], a commodity. I believe it will be currency someday, but at this point of its existence, itโs a commodity just like cattle, wheat, and gold. At some point, itโs going to become a means of paymentโฆand itโs going to happen really fast.โ
To explain her confidence, Lummis referred to the launch of the Bitcoin payment protocol,ย Lightning Network. She noted that Bitcoin came out of a whitepaper that didnโt include means of payment. Lightning Network filled the gap by providing a payment method for Bitcoin which should lead to further innovation in the payment space.