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Senator Ted Cruz buys Bitcoin


TL; DR Breakdown

  • Senator Ted Cruz buys Bitcoin
  • The politician bought $25,000 worth of Bitcoin
  • Cruz encourages the use of Bitcoin

Bitcoin has undergone a resurgence in the last few days leading up to today, with the digital asset posting small gains. With this, most market participants are confident that the bull run might already be on its way. What other way than to put your money where your mouth is? And that is what Senator Ted Cruz is doing at the moment. According to a news publication, the junior republican has dipped his hands into the leading digital asset, making a small investment.

Cruz bought Bitcoin worth $25,000

Going by the details of the filed purchase, the Senator purchased about $50,000 worth of the leading digital asset. He made use of the River Brokerage to carry out his entire purchase. During the purchase period on January 25, Bitcoin was trading close to $37,000.

However, the digital asset has since moved on in a bull run to register a price surge of about $41,000. If the said Bitcoins were still in his confines, he would be holding a total profit of about $6,000. Like Cynthia Lummis, Senator Cruz has been doing so much on the Bitcoin scene. This was owing to the benefits received from the influx of Bitcoin miners into his city.

Senator Cruz encourages the use of Bitcoin

Senator Cruz went as far as encouraging the use of Bitcoin around the Capitol. He was also one of the few members who opposed the recent draft law that defines a broker. With the cold engulfing much of Texas, most of the miners in the country suspended work to help the country’s grid.

While it lasted, there was news that the Senator was not in town during the issues. Although River Financial is a known U.S facilitator, it does not have an established transmitter on its platform. Going by the rule in Texas, exchanges do not need any form of license to carry out any transaction. Aside from the Senator, other high-ranking officials hold one asset or another.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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