Pro-Crypto US Senator Ted Cruz Bought Bitcoin Dip in January, Filing Shows


Ted Cruz, a pro-crypto senator from Texas, US, is expanding his bitcoin holdings despite uncertainty over crypto regulations. In January 2022, when bitcoin was struggling with losses, the 51-year-old Republican senator bought a lot of BTC tokens. According to a financial filing, Cruz invested between $15,000 (approximately Rs 11 lakh) to $50,000 (approximately Rs 37 lakh) to buy the lot. The exact amount spent on this purchase is unknown.

The transaction took place on January 25, when BTC was trading at around $37,000 (approximately Rs.27 lakh). There was a screenshot of Cruz’s official filing tweeted By News Portal Watcher Guru on 5 February.

Cruz has been supporting the adoption of crypto payments for months. he keeps Proposed To allow crypto payments at gift shops and vending machines at the US Capitol complex located in Washington, DC.

In recent times, Texas has emerged as a Bitcoin Mining Hub in America. The state offers a 10-year tax exemption, sales tax credit, and state-sponsored workforce training to crypto miners who are attracted to crypto miners. report good Said by Data Center Dynamics.

With the boom in bitcoin mining in Texas, its grid operator The Electric Reliability Council of Texas (ERCOT) forecasts a five-fold increase in energy loads in the coming days.

While the cryptocurrency regulatory guidelines are still being discussed by the US authorities, New York City And miami Already promoting the city’s coins to residents.

Other senators in the US have also come out in support of bitcoin, which has been described by the billionaire as the modern-day gold equivalent. mark cubano,

Eric AdamsThe mayor of New York City prefers to have his salary in bitcoin.

Several members of the US Congress, including Democrat Jake Auchinlaus of Massachusetts, Mary Newman of Illinois, Republican Jeff Van Drew of New Jersey and Barry Moore of Alabama, have disclosed holdings in cryptocurrencies or related stocks in the US.

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Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, business advice or any kind of advice or recommendation given or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.