In a recent speech to the Texas Blockchain Council, U.S. Senator Ted Cruz referred to Bitcoin as an energy security blanket for Texas’ grid infrastructure.
Cruz described Bitcoin (BTC) as an “energy reservoir,” noting that it could serve as an energy safety net for state grid infrastructure during extreme weather events or times of economic uncertainty.
“What Bitcoin offers is a real-time opportunity to enhance the resilience of our network,” Cruz said.
The comments come as Bitcoin mining in Texas has raised concerns about noise pollution and health problems for residents, highlighting the need for better regulations.
Ted Cruz and Cryptocurrencies
Texas Blockchain Council Approved According to Cointelegraph, Ted Cruz is running for re-election to the U.S. Senate on August 12. They cited his support for Bitcoin and its potential benefits to the Texas power grid. Cruz, who has previously spoken at TBC events, currently leads Democrat Colin Allred by eight points in a recent poll.
In his speech, Cruz stressed that Texas, the leading state in the United States in wind energy production, faces challenges during severe weather when renewable energy sources such as wind and solar fail to generate sufficient power.
During such events, Cruz claimed that Bitcoin miners could be quickly shut down, and the electricity they consume redirected to essential needs like heating homes and running hospitals.
“Bitcoin is an energy reservoir and a safety net for the state of Texas,” Cruz said.
Texas has been a hotbed of cryptocurrency mining disputes between miners and the government. Recently, a Texas-based cryptocurrency mining company, Lejilex, filed a lawsuit against the Securities and Exchange Commission, challenging its authority over publicly traded cryptocurrencies and disputing the classification of some tokens as securities.
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