Ted Cruz, a Republican senator from Texas, hopes that his state will become the epicenter “oasis” for Bitcoin and crypto.
Speaking during a keynote address at conservative think tank the Heritage Foundation, Cruz said that he believes in Bitcoin. The event was titled “Bitcoin and the American Experiment”.
The mission of the Heritage Foundtion is “to formulate and promote public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.”
According to a report by The Block, Cruz made his comments in reference to a discussion on the expansion of crypto mining in Texas. The senator said that wanted his state to become the epicenter of Bitcoin and crypto from around the world.
He said,
I believe in Bitcoin. I want Texas to be the oasis on planet Earth for bitcoin and crypto.
Cruz argued that members of the opposing political party were not fans of Bitcoin due to their inability to control the cryptoasset. In particular, he took aim at Elizabeth Warren, a Democtratic senator from Massachusetts.
He continued,
They don’t like something they can’t control. That is the exact same reason most Democrats don’t like bitcoin. Why does bitcoin make Elizabeth Warren toss and turn and twitch at night? Because she wants her sticky little socialist fingers to be able to control every penny in every one of our bank accounts.
Senator Cruz was also critical of the development of a central bank digital currency (CBDC), calling it a “horrific” and “dangerous” idea. His comments were a part of a larger criticism of Federal Reserve Chairman Jerome Powell’s work with Senator Sherrod Brown, which included the potential development of a CBDC.
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