July 22, 2024

Ted Cruz: I buy some bitcoin every Monday morning

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Ted Cruz: I buy some bitcoin every Monday morning

The American senator admitted that he is a Bitcoin investor and regularly invests in the first cryptocurrency.

"Now I have a little more than twoBitcoins, but every Monday there are a little more of them,” announced Ted Cruz, speaking to participants at an event dedicated to Bitcoin (Bitcoin Policy Summit).

The Republican senator assured that he is adamantin his belief: Bitcoin is “the alpha in the cryptosphere.” The politician is given confidence by the 21 million limit of bitcoins that was included in this digital currency at the time of its creation. 

Addressing the panelists, Cruznoted that he views such a limit as a hedge against asset inflation. Especially when US policymakers are printing paper money at an alarming rate, coupled with the US Federal Reserve's continued rate hikes.

“I'm a long-term investor, so I'm comfortable with some volatility and I understand there will be ups and downs, but 21 million is a sustainable number,” the senator said.

In March, Ted Cruz introduced a billprohibiting the Fed from launching its own digital currency aimed at retail clients. The politician said that the draft bill would prevent the federal government from using the digital dollar for financial supervision of citizens.