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“I want Texas to be the oasis on planet Earth for bitcoin and crypto,” Republican Senator Ted Cruz highlighted during an in-person event hosted by The Heritage Foundation on May 23.
Cruz’s home state of Texas is already known as one of the most popular bitcoin (BTC-USD) mining hubs in the U.S. thanks to relatively low-cost electricity, available hosting capacity and favorable regulations.
As of January, Texas accounted for 11.22% of America’s bitcoin (BTC-USD) mining hashrate distribution, making it the second-largest bitcoin miner, with Georgia (30.76%) in the lead, according to data from the Cambridge Centre for Alternative Finance.
“I believe in Bitcoin,” Cruz emphasized, adding that Democrats, namely Senator Elizabeth Warren, don’t feel the same way since they can’t control the decentralized space. “Why does 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,” he added.
Warren said in the beginning of April that it’s time for the U.S. to create a central bank digital currency, which would give Fed officials full control over money flows. But “I think a central bank digital currency is a horrific idea. I think it is a very dangerous idea,” Cruz said.
Previously, (February 5) Ted Cruz bought up to $50K in bitcoin.
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