Senator Ted Cruz Sparks Cryptomania with BTC Endorsement

"Senator Ted Cruz's Bitcoin Remarks Ignite Crypto Enthusiasm, MicroStrategy Founder Shares Video"

Senator Ted Cruz has expressed his bullishness on Bitcoin (BTC) during the Bitcoin Policy summit on Wednesday, April 26, 2021. In a video posted by MicroStrategy Founder and Chairman Michael Saylor on Twitter, Cruz was seen expressing his excitement about cryptocurrency as a whole and his particular bullishness on BTC. He stated that BTC is the alpha in the crypto sphere, ranking first and being the most dominant coin. Cruz also believes that BTC is a powerful hedge against inflation and government control. His endorsement of BTC is significant given his past criticisms of crypto, and it is a milestone for the industry, showing that traditional institutions are gradually embracing crypto.

Cruz further described the analogy of BTC as digital gold as powerful and the insight that led to its creation as extraordinary. He expressed his confidence in BTC by stating that he makes personal investments in them. Every Monday morning, he has a standing order to add more BTCs to his ownership. Cruz revealed that he bought the dip and that he was happy with it, disclosing that he is a long-term investor and finds the volatility in the market completely normal. Referring to the 21 million BTC cap, Cruz said:

BTC has seen a promising increase in the last 24 hours, rising over 8% to touch $30,000 on Thursday, April 27, despite falling back to the $29,000 mark. At press time, BTC is valued at $29,309.10. This increase in value is a positive sign for the crypto market, which has seen a lot of volatility in recent times.

Cruz believes that one of the attractions of BTC is that it works as a hedge against inflation, especially when politicians in Washington carry on a spending binge. Additionally, the fact that BTC is decentralized makes it powerful as it is far less susceptible to government control, says Cruz. His endorsement of BTC is significant given his past criticisms of crypto. He had previously called for a ban due to concerns about illegal use but now seems to have shifted his views, actually vouching for the same now.

Cryptocurrencies are facing scrutiny from regulators worldwide, making Cruz’s support a milestone for the industry. It shows that traditional institutions are gradually embracing crypto. The crypto market has been through a lot of ups and downs in recent times, with many investors feeling uncertain about the future. Cruz’s endorsement of BTC has reignited interest in the crypto market and may encourage more investors to take a closer look at crypto.

In conclusion, Senator Ted Cruz has expressed his bullishness on Bitcoin (BTC), stating that it is the alpha in the crypto sphere, ranking first and being the most dominant coin. His endorsement of BTC is significant given his past criticisms of crypto, and it is a milestone for the industry, showing that traditional institutions are gradually embracing crypto. Cruz believes that BTC works as a hedge against inflation and government control, making it powerful. His endorsement of BTC has reignited interest in the crypto market and may encourage more investors to take a closer look at crypto.

Martin Reid

Martin Reid

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