An unprecedented year, 2020 has sent the global economy into a tailspin in an effort to compensate for COVID-19-related difficulties. If the traditional system collapses, Bitcoin will become vital, according to United States Senator-elect Cynthia Lummis.
"If we reach the point where we have overspent so much that things start crashing down, the black swan event occurs with regard to any fiat currency — whether it’s ours or yours or China’s or Japan’s — that there is a backstop available to every government in the world, and that backstop is Bitcoin,” Lummis told Peter McCormack during a recent episode of his What Bitcoin Did podcast.