US Senator Ted Cruz said he remains “incredibly optimistic about bitcoin” which he described as “the alpha of the crypto space”. According to Cruz, people are drawn to bitcoin because they see it as a hedge against inflation and also an “important check” against government spending.
Bitcoin is still the most dominant
US Senator Ted Cruz said he is “incredibly optimistic about Bitcoin” and still believes “the insight that led to its creation is still extraordinary.” In his remarks at an event organized by the Bitcoin Policy Institute, Cruz insisted that bitcoin is the “alpha of the crypto space” because it came first and is “the most popular.”
the comments By Cruz, a Texas Republican, it came at a time when the Biden administration has upped the ante in its fight against the crypto industry. As Bitcoin.com News reported, since the beginning of 2023, US officials and agencies have targeted crypto entities as part of what is called Operation Chokepoint 2.0. The SEC’s charges ranged from illegally selling securities to US citizens to promoting them without the required permissions.
“I am incredibly optimistic # Bitcoin. – Senator @employee pic.twitter.com/595jRKSwna
– Michael Saylor (@saylor) April 27, 2023
In response to the SEC-led campaign, Republican senators, including Cruz, criticized regulator chief Gary Gensler. Others like pro-cryptocurrency US Senator Tom Emmer claimed that Gensler’s actions “push innovation into the hands of a communist state.” Senator Cynthia Loomis A BTC Lawyer and investor as well He expressed Dissatisfied with the SEC’s approach to regulating cryptocurrencies.
BTC hedge against inflation
Meanwhile, in his speech at a Bitcoin Policy Institute event, Cruz explained why he and many others are drawn to bitcoin.
“One of the attractions of bitcoin is as a hedge against inflation, especially when you have irresponsible politicians in Washington who spend money like drunken sailors,” Cruz said.
Cruz added that printing trillions of dollars over the past two years has led to what he described as “massive inflation.” According to Cruz, since then BTC Less “vulnerable to government control”, and thus can serve as an “important check” against wasteful government spending.
The Texas senator also claimed to love it BTC For the same reason that the Chinese Communist government does not like Bitcoin.
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