Ted Cruz Explains Why He Is Bullish On BTC Amid Canadian Controversy

Ted Cruz explains why he remains bullish on Bitcoin despite the ongoing controversies in Canada amid the protests against COVID-19 vaccine mandates as we can see more today in our latest bitcoin news.

American senator Ted Cruz explains that bitcoin’s biggest advantage is its decentralization. He served as the Junior United States Senator for Texas and said he is a strong bitcoin supporter because the authorities cannot control it. He said that China imposed a total crypto ban because of the same reason. He opposed Trudeau’s emergency act by which the Canadian government froze the assets of the Freedom Convoy protesters.

One of the reasons I’m bullish on #Bitcoin is because it’s decentralized.

The Left hates Bitcoin because they can’t control it. #CPAC2022 pic.twitter.com/D4PYNacNBZ

— Ted Cruz (@tedcruz) February 25, 2022

The 51-year old member of the Republican Party said bitcoin represents freedom and decentralization and no government can control the asset which is why the People’s Bank of China banned its usage. Cruz said that Elizabeth warren disregards bitcoin for the same reason:

“The Chinese communists and Elizabeth Warren both want to control your assets, your savings, your speech, your life, your children, every decision.”

It’s worth noting that Senator Warren bashed the digital asset sector plenty of times and even called it “highly opaque and voaltile”  urging the regulators to implement comprehensive regulations. Thousands of Canadians protested against the government’s pandemic restrictions and the authorities required financial institutions to freeze their bank accounts asking domestic crypto exchanges to do the same. To prove that BTC is much different from the other monetary assets, Cruz cited a letter from the Nunchuk crypto company:

“Our software is free. We do not collect any user identification and information beyond e-mail addresses. Therefore, we cannot freeze our users’ accounts. We cannot prevent them from being moved. This is by design.”

The recent coverage informed that eight top American lawmakers traded crypto over the past year while Ted Cruz is one of them. Another prominent HODLer is senator Cynthia Lummis who purchased between $50,000 and $100,000 last year and bought five BTC in 2013.

As recently reported, Senator Cruz believes that the state could make use of the abundant energy resources while Bitcoin remains rife with environmental issues. The Permian Basin is the oil and gas-rich region in the southwestern part of the US and the portions of the Basin are both in New Mexico and Texas.