Two days ago, Cynthia Lummis who is a United States senator in a tweet referenced Bitcoin plebs for leadership. She said this while commenting on an earlier tweet by Caitlin Long.
Caitlin was lamenting about how a JP Morgan report on the “Bitcoinization of El Salvador” did not even mention the Lightning Network at all.
This, according to her, shows that the research team didn’t understand the basics. Thus, questioning why most people trust Wall Street for cryptocurrency research.
Quoting this, Cynthia Lummis called the Wall Street analysts to first understand the reason the El Salvador governments made this to start with. She expressed her view thus: “Wall Street analysts et. al., get over yourselves. Look to the plebs and the leadership of El Salvador to understand the decision that nation made…”
In a video she referenced, Dania Gonzalez who is the President of the Financial Committee of El Salvador’s Congress addressed the parliament concerning the Bitcoin Law. She explained that the law is not to force Bitcoin on every citizens, but will only be an alternative legal tender.
Moreso, it’s to ensure that El Salvadorians make more seamless cross-border transactions. Furthermore, she noted that “70% of the population is excluded from the financial system, and Bitcoin would be able to bridge that.