US Congressman Ted Cruz: Bitcoin improves the global economy and ecology

Article Reading Time:
2 minutes.

U.S. Senator, Amid Global Crackdown on Traditional PoW Mining, Believes Bitcoin Booststhe standard of living of the society, and this has a beneficial effect on the environment.

Ted Cruz, a representative of the US Republican Party, during a speech at the Texas Blockchain Summit, said that bitcoin mining providesthe prosperity of society, which, in turn, benefits the environment.

"If you look at the environment, pollution is directly linked to poverty.If you drive a brand new Tesla, it's good for the environment.But if you don't have the money to afford it, you can't help the environment," he explainsRepublican congressman.

According to the speaker, even the Texas Blockchain Summit in Austin, which has brought together many entrepreneurs, contributes to theAs the gathered businessmen are able to increase the standard of living of society and, accordingly, the ecological situation in the world

Ted Cruz Insists That Crypto Asset Mining Is Good For The Environment As It Incentivizesproduction of renewable energy and the use of energy that would otherwise not be in demand:

"Cryptocurrency is a net plus for the environment.Being able to unlock a lot of renewables is really important for the environment.I think being able to take an abandoned source of natural gas and use it for production is a big plus for the environment."

The Republican senator claims that bitcoin mining helps in regulating and optimizing the distribution of electricity.The ability of bitcoin miners to quickly turn on and off equipment is invaluable the moment it arisesWhen energy production capacity is reduced, it is possible to instantly move the surplus to a consumer in need, insistscongressman.

Recently, the U.S. House Committee on Energy and Commerce began studying the energy and climate impacts of large mining companies.