Ted Cruz, a Republican senator from Texas, hopes that his state will become the epicenter \u201coasis\u201d for Bitcoin and crypto.\u00a0<\/p>\n
Speaking during a keynote address at conservative think tank the Heritage Foundation, Cruz said that he believes in Bitcoin. The event was titled \u201cBitcoin and the American Experiment\u201d.<\/p>\n
The mission of the Heritage Foundtion is \u201cto formulate and promote public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.\u201d<\/p>\n
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.\u00a0<\/p>\n
He said,\u00a0<\/p>\n
I believe in Bitcoin. I want Texas to be the oasis on planet Earth for bitcoin and crypto.<\/p>\n
Cruz argued that members of the opposing political party were not fans of Bitcoin due to their inability to control the cryptoasset.\u00a0In particular, he took aim at Elizabeth Warren, a Democtratic senator from Massachusetts. <\/p>\n
He continued,\u00a0<\/p>\n
They don\u2019t like something they can\u2019t control. That is the exact same reason most Democrats don\u2019t 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.<\/p>\n
Senator Cruz was also critical of the development of a central bank digital currency (CBDC), calling it a \u201chorrific\u201d and \u201cdangerous\u201d idea. His comments were a part of a larger criticism of Federal Reserve Chairman Jerome Powell\u2019s work with Senator Sherrod Brown, which included the potential development of a CBDC.<\/p>\n
https:\/\/youtube.com\/watch?v=hh-elIu_KPk%3Ffeature%3Doembed<\/p>\n