In recent news, US Senator Ted Cruz has declared his strong belief in Bitcoin, stating that he is “extremely optimistic about Bitcoin.” Additionally, the senator mentioned that he had “buy the dip” indicating that he had invested in bitcoin during a period of market decline.
Cruz, who is known for being one of the few politicians with a positive stance on cryptocurrencies, made these comments in recent days. He referred to Bitcoin as the “big brother” in the cryptocurrency field and noted that he believed it had been firmly established.
Bitcoin has seen a promising increase in the last 24 hours, rising over 8% to touch $30,000 yesterday, although it has now fallen back to the $29,000 mark. Cruz’s comments come at a time when the cryptocurrency market has been experiencing a downturn, leading some investors to view Bitcoin as a potential safe haven asset.
While Cruz did not disclose the price at which he purchased Bitcoin, his statement reflects a growing trend among lawmakers who are beginning to recognize the potential of cryptocurrencies. Previously, Cruz had made headlines by proposing a requirement for Capitol Hill to accept cryptocurrencies as payment, which included vending machines and food service providers.
Moreover, the senator has also spoken out against the deployment of a Fed-developed digital currency. In March, he proposed legislation to prohibit the implementation of a central bank digital currency (CBDC) and emphasized the possibility of government use of such a currency as a tool for financial surveillance.
Bitcoin has been in the spotlight recently, not only due to its rapid increase in price but also due to its recent increase in the number of active addresses. According to CryptoQuant, a data analysis firm, Bitcoin’s active addresses have recently surpassed levels last seen in November 2021, indicating a growing demand for digital currencies.
In conclusion, Cruz’s optimistic view of Bitcoin is significant as it reflects the growing acceptance of cryptocurrencies among lawmakers. Additionally, his investment in Bitcoin during a period of market decline could serve as a sign to other investors that cryptocurrencies are a viable investment opportunity even in uncertain times.
Source: https://azcoinnews.com/us-senator-ted-cruz-extremely-optimistic-about-bitcoin-buys-in-during-market-dip.html
