Rep. Warren Davidson's co-panelist at Bitcoin 2021, Sen. Cynthia Lummis, referred to trillions of dollars in debt creation as "anti-American."Many Bitcoin proponents have chided the US Federal Reserve for its policy during (and before) the coronavirus pandemic of printing money to stimulate sections of the economy.
Cryptocurrency proponent Rep. Warren Davidson (R-OH) thinks the Fed's monetary policy bears some resemblance to the tokenomics of the world's sixth-largest cryptocurrency.
"The Fed is basically Dogecoining the US dollar," said Davidson at the Bitcoin 2021 conference today, referring to the production of 10,000 new DOGE roughly every minute. By contrast, only 21 million Bitcoin will ever be minted. "There's a benefit to scarcity that the Dogecoiners don't apparently get," added Rep. Davidson. "Nor does the Fed."
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