U.S. Senator Recommends Buying Bitcoin As Government Prints Trillions + This Symbiotic Crypto Military Project
A U.S. Senator is advising people to invest in bitcoin for their retirement.
U.S. Senator Cynthia Lummis has encouraged “people to buy and hold” bitcoin in their portfolios.
Cynthia adds that as Congress spends trillions and trillions of dollars (flooding the world economy with US dollars) there’s no way that the value of it can’t be debased.
She worries about having all of her retirement money denominated in US dollars, and then comments on bitcoin as a critical element of a diversified portfolio, saying it’s one of the strongest stores of value in the long run.
When she was questioned if she’d invested in other cryptocurrencies aside from bitcoin, she said that, “The only one I really understand is bitcoin. Now, that doesn’t mean that Ethereum might not have benefits as well.”
What she said is also great investment advice, and she’s leading by example in that she’s investing in something that she understands. We think this is also really great investment leadership, as she speaks to the reality that she only understands bitcoin and thus has only invested in bitcoin.
It’s definitely important to understand what you’re investing in. You don’t necessarily have to understand how to build it, or all of the technical details behind what you’re investing in. For example if you were investing in an airplane company, you wouldn’t need to understand how an airplane works or how to make one. However it would be important to understand what that airplane company does, what their services are, who their competitors are, the risks involved, and the history of that company.
It’s great that she’s speaking to this kind of investment strategy to understand what you’re investing in. Also the fact that Senator Lummis came out publicly in support of bitcoin as a long-term investment, is a continuation of a trend we’re seeing of high-profile (but mainstream) figures getting behind crypto.
Another article from bitcoin.com cites a recent survey of financial advisors and their investment strategies that shows a significant shift in embracing cryptocurrencies.
We see that more than 26% of investors in this survey, indicated that they planned to increase their recommendation of cryptocurrencies over the next 12 months. Furthermore 49% of advisors in this survey said that their clients have asked them about investing in cryptocurrencies in the last six months.
This data is from the 2021 Trends in Investing Survey, which is conducted by the Journal of Financial Planning and the Financial Planning Association.
We think it’s clear from this data that wealth managers are connected to investors, and investors are connected to trends. Currently there is a trend of cryptocurrencies being adopted by people who are not just Gen Z’s, or Millennials in the crypto space, but people who are seeing bitcoin and cryptocurrency as legitimate investment opportunities for the future.
We’re brought to this inquiry now, on what this continued adoption of bitcoin and crypto assets in general look like moving forward in the future, as more wealth managers catch on to this trend.
One great use case of blockchain technology is preventing corruption. Blockchain technology is combining permanent and tamper evident record-keeping with transactional transparency and automated smart contract functionality, which allows the flow of money and energy to be secure and traceable to the source. This is huge when you’re entering a financial system, which requires this type of transparency in order to be legitimate and in order for large institutional forces to join in and be given permission to join in.
When it comes to taxes and charity donations, blockchains can help us keep records on a decentralized database, thus protecting data and building trust and reducing costs. Building trust is huge, because if a government can be insured that a blockchain enabled charity is being funded by a legitimate source and is not a vector for money laundering then there might be tax incentives created for investors who donate to the blockchain enabled charity.
This interplay between governing bodies and blockchain technology and the institutional adoption, which emerges from that partnership is really important for the growth of blockchain and cryptocurrency economies.
This brings us to a project we’ve been exposed to called Military Finance. Military Finance is a project that has developed a cryptocurrency intended to help veterans, and it’s a blockchain enabled charity that leverages blockchain technology to allocate funds directly from a charity (via smart contracts) to military veterans.
They’ve essentially created a web of connectivity between veterans and charities allowing the flow of resources between the two to be more fluid, more direct, and less centralized. As we know, when centralization becomes involved there are costs, and $1 that was sent to a veteran becomes 70 cents, because 30 of those cents have to be distributed to all the costs that are associated to getting that dollar to the veteran.
When you decentralize this process though, you reduce the cost and thus it becomes more efficient and more of the money that you send to a veteran through a charity actually gets to that veteran.
We think this is a really fascinating project and it’s a template for other projects, which can help to distribute energy more efficiently to people who need it.
Military Finance is also the first altcoin to sponsor a NASCAR driver (Keith McGee who served in the Air Force). If you check out their whitepaper, you’ll see they have a really interesting membership rewards structure, which incentivizes people to do daily tasks that allow you to earn rewards. They also have a feature called ‘influencer score’, which allows you to earn rewards and tokens every time you post or share something.
They’ve developed a fascinating template of design for this type of cryptocurrency, where you are incentivized to give, not just by a tax deduction like you would in the legacy models of charity.
You’re incentivized directly through the tokenization system, and in ecological terms it’s actually a beautiful expression of symbiosis, which is when two organisms are in mutually beneficial relationship. For us a project like this, it’s an example of symbiosis on a technological level, where your giving is both mutually beneficial for the giver and the recipient. Symbiosis by the way is the foundation for a healthy ecosystem.
That’s what we love about blockchain technology and the cryptocurrency universe is that it’s reflecting the symbiotic nature of life. The more that our technology and social systems, and economies can reflect the symbiotic template of life, the more we think that we will have a healthy and prosperous humanity.
Both physically as humans as we become more symbiotic with our environment and each other, (supported by these new technologies) but also culturally between each other when we realize we can establish mutually beneficial agreements where we both benefit from giving.
You can find more about military finance on their website military.finance
And you can get their token ($MIL) at PancakeSwap.
Thanks for reading and we wish you the best of luck.
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