When it comes to bitcoin and crypto more generally, the U.S. senator said: 'I am incredibly bullish.' cryptocurrency $BTC
U.S. Senator Ted Cruz says he is “incredibly bullish” on bitcoin and purchases the cryptocurrency weekly for his portfolio. Emphasizing that cryptocurrency “will change the world,” the senator said, “Uncontrolled, decentralized currency is terrifying for those who want control of currency.”Senator Ted Cruz discussed bitcoin at the Heritage Foundation’s Bitcoin and the American Experiment event Monday.
He continued: “And then there is the advantage of freedom. There is nobody in charge. That terrifies government decision-makers.” Referencing that communist China and U.S. Senator Elizabeth Warren want to control currencies, Cruz commented:The Texan senator proceeded to explain why bitcoin mining is good for the environment.
He gave the example of natural gas flaring, the process of lighting natural gas on fire during oil production, praising bitcoin’s ability to turn the energy waste into value. He also explained, “One way to think of bitcoin is as a battery,” adding that when there’s a need, “Bitcoin mining rigs can be turned off at a fraction of a second” and “suddenly the energy that was going to bitcoin mining can be instantly available” for people.
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