Cynthia Lummis: “Gold has gone on closer to 3,000 an ounce.”

“We could take our gold certificates, which are currently held at the Federal Reserve on the books at their 1974 value, which is $42 an ounce. Now, most of us know that Gold has gone on closer to 3,000 an ounce. So if we took those gold certificates, not physical gold, let's keep our physical gold, let's take the gold certificates, bring them up to current fair market value and convert them to bitcoin.” (26:05–26:10)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.