US Senator Ted Cruz Says He is Bullish On Bitcoin

Vignesh Karunanidhi
US Senator Ted Cruz Says He is Bullish On Bitcoin
Source: New York Daily News

US Senator Ted Cruz recently voiced his bullish stance on Bitcoin, citing synergies between the cryptocurrency and Texan values of freedom. Cruz believes Bitcoin’s decentralized nature enhances liberty by being “uncontrollable,” triggering government resistance.

In his tweet, Cruz stated, “What makes Texas different than the rest of the world is that Texans love freedom, and so do digital asset bulls. He sees the state as the “natural home” for the crypto industry.

In his recent interview with Forbes, Cruz also mentioned that Texas is a hub for jobs, innovation, and freedom. He also added that this makes it the natural oasis for the digital asset industry globally.

Cruz contends Bitcoin’s security model based on decentralization makes it impossible for governments to control. He pointed to China’s ban on Bitcoin as an example of authorities pushing back against this freedom.

Also Read: Ripple Expands Crypto Services With Fortress Trust Acquisition

Ted Cruz declared his bullishness on Bitcoin earlier

Ted Cruz previously declared he was “incredibly bullish on Bitcoin” when prices exceeded $30,000 in April. The senator also mentioned personally buying the dip, signaling his positive investment outlook.

Also read: US Senator Ted Cruz Says CBDCs are Designed to “Destroy all the Value of Bitcoin”

However, Cruz struck a skeptical tone regarding central bank digital currencies (CBDCs), which he argues are designed to “destroy all the value of Bitcoin. He believes implementing CBDCs would be “profoundly dangerous” for society.