HomeCryptoBitcoinSenator Ted Cruz is bullish on Bitcoin

Senator Ted Cruz is bullish on Bitcoin

After declaring a few days ago that he had bought $50,000 worth of Bitcoin, Senator Ted Cruz said without hesitation that he is very bullish about the future prospects of Bitcoin’s price performance.

Why Ted Cruz is bullish on Bitcoin

During the most important conference of the Republican Party of America, the CPAC, which was held last weekend in Orlando, Florida, in his speech, the senator mentioned cryptocurrencies and their fundamental characteristic of decentralization, which makes them independent of any possibility of manipulation.

In the presence of former US President Donald Trump, who is certainly not crypto friendly, the senator said he was absolutely bullish on Bitcoin, precisely because of its decentralization. He added that: 

“China recently banned bitcoin because they can’t control it, which is the exact same reason Elizabeth Warren hates bitcoin”.

“So Justin Trudeau said I don’t like me some truckers, so we are going to freeze your assets. So the court went to try to freeze the crypto that was being given to the truckers”.

Il senatore Ted Cruz
Senator Ted Cruz

Ted Cruz vs Elizabeth Warren

Always very supportive of the cryptocurrency world, in November, the Texas senator proposed an amendment to the Infrastructure Bill to soften the tax burden that the new law imposes on cryptocurrencies.

In his speech, he harshly criticized Senator Elizabeth Warren, who has always advocated very repressive legislation on cryptocurrencies. In December, in a hearing before the Senate Finance Committee, she described the decentralized finance of cryptocurrencies as dangerous for investors and for the international financial system. Cruz emphasized:

“The Chinese Communists and Elizabeth Warren, they both want to control you, your assets, your savings, your speech, your life, your children — every decision — they want to control, and so we need to break up the means of controlling the citizenry”.

Bitcoin to strengthen the energy infrastructure

Senator Cruz also recently said that Bitcoin mining could help stabilize the power grid in Texas, where this industry has grown by leaps and bounds since the ban imposed by China.

“A lot of the discussion around bitcoin views bitcoin as a consumer of energy. The perspective I’m suggesting is very much the reverse, which is as a way to strengthen our energy infrastructure”.

Vincenzo Cacioppoli
Vincenzo Cacioppoli
Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.