U.S. Senator Ted Cruz: “I believe Bitcoin.”

His hometown, Senator Ted Cruz, wants Texas to be the center of cryptocurrency development.

Cruz, a Republican, gave a keynote speech at a May 23 event called “Bitcoin and American Testing.” he mentioned the recent expansion of cryptocurrency mining in Texas.

“I believe in Bitcoin, and I want the state of Texas to be an oasis on planet earth for Bitcoin and cryptocurrencies,” Cruz says.

Cruz explained China’s recent crackdown on cryptocurrencies: “They don’t like something they can’t control. That is also the exact reason that most Democrats don’t like Bitcoin.”

Cruz continues to raise the issue with the central bank’s digital currency (CBDC).

“I think the central bank’s digital currency (CBDC) is a terrible idea, and I think it’s a hazardous idea, ”he said.

Senator Ted Cruz is one of the politicians who expressed his support for Bitcoin. On January 25, he set aside around $15,000 – $50,000 to buy Bitcoin and decided to go long term.

Recently, topics related to cryptocurrencies have been discussed by many politicians. Senator Elizabeth Warren recently stated, “We must deal with the risks that stablecoin poses to consumers and our economy. Those stablecoin projects are not fully monitored, and if they don’t have collateral, it’s a risk to the entire financial system.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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