Ted Cruz Revealed That He Recently Bought Bitcoin.
Texas Senator Ted Cruz is the most recent politician to buy Bitcoin.
Ted Cruz purchased between $15000 and $50000 worth of Bitcoin (BTC) on January 25th, according to a financial report filed on Friday 4th February.
Bitcoin was selling between $36000 and $37000 at the time, and it has since grown to a current price of over $41,600. Provided he has not yet sold his bitcoins and has not paid any short-term capital gains taxes, his current profit on the deal is between $2,000 and $6,850.
Ted Cruz, like colleague Wyoming Senator Cynthia Lummis, spent most of the latter half of the crypto bull run integrating himself with the blockchain and cryptocurrency business, as his state profited from an inflow of Bitcoin mining firms and interest in the issue grew.
He has endorsed for the approval of cryptocurrency payments at gift shops and vending machines in the United States Capitol complex, and he has spoken out against a provision in the recent infrastructure bill that critics say would broaden the definition of a “broker” to include miners, validators, and coders.
During the current harsh winter sweeping Texas, several crypto miners paused or suspended operations to assist in protecting the state’s electricity grid infrastructure, which collapsed during a severe frost in 2021. Cruz was famously missing for a portion of that period since he was visiting the Mexican resort of Cancn.
Several members of Congress, including Democrats Jake Auchinloss of Massachusetts and Marie Newman of Illinois, as well as Republicans Jeff Van Drew of New Jersey and Barry Moore of Alabama, have reported ownership in bitcoin or similar equities.
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