Ted Cruz, a Texas senator has again endorsed bitcoin. Bitcoin is becoming more popular among the ruling classes and politicians are supporting it. Republican Senator Cruz, who supports cryptocurrency and takes a positive stand about it, has shared why. Cruz expressed concern about government controls over citizens’ financial properties in a talk and praises bitcoin for preventing this.
Bitcoin Supported by Cruz
His talkTed Cruz from the United States explains in detail why he believes bitcoin. He cites recent Canadian issues as the main reason for his support. Canadian Prime Minister Justin Trudeau had frozen the accounts of truckers protesters, and their supporters. He even tried to block BTC accounts from these protesters.
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Cruz said that it is necessary to decentralize and break down things. This is also why Cruz is bullish about bitcoin. This argument is supported by the fact the digital asset can’t be controlled or manipulated by governments and entities.
“It’s one of the reasons why I’m so bullish on crypto, on bitcoin, because it is decentralized and not controllable,” Cruz said.
He explained that recent events in Canada are a good example of why Bitcoin is so important. Cruz goes ahead to read the scathing letter sent by self-custody software provider Nunchuk, to the Ontario Superior Court of Justice, explaining that they in fact could not freeze anyone’s crypto wallets as directed by the latter. The senator praised the response as “spectacular.”
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Cruz continued by stating that China banned BTC because of its decentralization. According to the senator, this was because the government is unable to control it. The Senator stated that the reason Senator Elizabeth Warren opposes cryptocurrency is because it is impossible to control.
“Warren hates bitcoin. Elizabeth Warren and the Chinese government want you to be controlled. And so we need to break up the means of controlling the citizenry.”
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The Democratic senator has criticised bitcoin and cryptocurrency at different points. She called them the new shadow banking. Warren stated that digital assets do not offer a path to financial equality in the past.
Ted Cruz is a firm advocate for bitcoin. In a financial disclosure, the Texas Republican disclosed that he purchased Bitcoin up to $50,000 during January’s dip.
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