U.S. U.S. Senator Ted Cruz said that one reason he’s so optimistic about bitcoin is the fact it is not centrally controlled and decentralized. He added that “China recently banned bitcoin because they can’t control it, which is the exact same reason Elizabeth Warren hates bitcoin.”
US Senator Bullish about Bitcoin
U.S. U.S. Senator Ted Cruz, from Texas spoke positively about bitcoin during the Conservative Political Action Conference. (CPAC). Thursday. Launched in 1974, CPAC “is the largest and most influential gathering of conservatives in the world,” its website describes.
The senator stated these words during his speech to the occasion:
One of the reasons why I’m so bullish on crypto, on bitcoin, is because it is decentralized and not controllable.
“Let me give a fantastic example,” he continued. “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.”
Senator Cruz began to read aloud the letter sent by Nunchuck, a Bitcoin wallet company to the Ontario Superior Court Justice. On February 18, the court issued an order to the company to disclose and freeze information regarding the Freedom Convoy movements.
In the letter to the court, the Nunchuck team explained that it is a “self custodial, collaborative-multisig Bitcoin wallet.” Citing that it is “a software provider, not a custodial financial intermediary,” the company told the court:
We cannot ‘freeze’ our users’ assets. They cannot be moved. We do not have knowledge of ‘the existence, nature, value and location’ of our users’ assets. This is design.
The letter ends with the company urging the court, “Please look up how self custody and private keys work.”
As he put the letter back in his jacket pocket, Senator Cruz exclaimed, “That is spectacular.”
Senator Cruz also spoke of control. He stated:
China recently banned bitcoin because they can’t control it, which is the exact same reason Elizabeth Warren hates bitcoin.
“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,” he emphasized.
Texas Senator John Cornyn is a Bitcoin holder. He stated that he had bought bitcoins worth $15,001 to $50,000 in February.
Senator Warren has repeatedly attacked bitcoin, citing environmental protections and investor protection. She has urged the U.S. Securities and Exchange Commission (SEC) to use “full authority” to regulate crypto trading.
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