Senator Rafael ‘Ted’ Cruz of Texas, a junior Republican, is putting his money where his mouth is.  Cruz purchased between $15k and $50k worth of Bitcoin on January 25th, according to a financial report filed on February 4.  Bitcoin was trading between $36k and $37k at the time, and it has since increased to its current price of roughly $41,600. His current profit on the purchase is in the range of $2,000 – $6,850, assuming he hasn’t sold his bitcoins and paid any short-term capital gains taxes. Cruz spent most of the latter half of the crypto bull run connecting himself with the blockchain and cryptocurrency business, following in the footsteps of fellow Senator Cynthia Lummis of Wyoming, as his state profited from an influx of Bitcoin mining companies. He has lobbied for the acceptance of cryptocurrency payments in gift shops and vending machines throughout the United States Capitol complex. He spoke against a provision in the recent infrastructure bill that critics say would broaden the definition of a ‘broker’ to include miners, validators, and coders.  According to the Texas Department of Banking guidance on Virtual Currencies, “no currency exchange license is required in Texas to conduct any type of transaction exchanging virtual with sovereign currencies.”

The post Republican Senator Ted Cruz Buys the Bitcoin Dip appeared first on Cryptoknowmics-Crypto News and Media Platform.

Texas Governor Greg Abbott is welcoming Bitcoin miners to his state, claiming that the new industry of digital asset mining could help stabilize the electricity grid which struggles to keep up with demand.  According to a report by Decrypt, Governor Abbott, alongside several other prominent Texas politicians including Senator Ted Cruz and Austin Mayor Steve […]

Sen. Ted Cruz (R-TX) made a bitcoin purchase during the recent dip, according to new financial disclosures with the US Senate. 

The post Financial disclosures show Ted Cruz made a January 25 bitcoin purchase appeared first on The Block.

Texas Senator who talks a big game actually has something to show for it.

As Bitcoin enters the mainstream conversation, it is becoming increasingly common for politicians to embrace or disparage the technology.

Why is it imperative that Bitcoiners explain the benefits of Bitcoin to Donald Trump?

His embrace of the industry may be a counterintuitive and risky play to cover a weak point with voters.

Bitcoin’s fixed supply makes it a possible good inflation hedge, according to pundits.  By 2140, mining blocks will no longer yield a block reward.  John Cantrell believes that the hash power generated would still be enough to secure the network.  Bitcoin is one of the most valued cryptocurrencies and, indeed, the one with the largest […]

In an interview with Fox News show “Hannity”, Texas Senator Ted Cruz says the rising purchase of bitcoin is a sign that people are expecting a major inflation crisis on the American economy. Previously, his fellow senator, Elizabeth Warren from Massachusetts, has released a statement about bitcoin and described it as a “lousy investment” and […]

The post Imminent U.S. inflation crisis making bitcoin’s popularity rise? appeared first on BitcoinerX.

It might seem like a bunch of craziness, but I just can't shake the feeling that we are witnessing something truly historic today.

The post GameStop Saga Shows How Rigged the Stock Market Really Is appeared first on Bitcoin Market Journal.