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The American politician serving as the junior United States Senator for Texas – Ted Cruz &#8211; thinks bitcoin could be a lifeboat amid the inflationary environment supposedly created by Washington&#8217;s irrational decisions. 
He revealed holding slightly more than 2 BTC and having a standing order to buy more of the primary cryptocurrency every Monday morning, regardless of its price. 
<h2 id="span-data-preserver-spaces-true-btc-a-hedge-against-inflation-and-so-much-more-span">BTC: A Hedge Against Inflation and So Much More</h2>
In a recent <a class="editor-rtfLink" href="https://www.youtube.com/watch?v=-Dw0K66tKHA&amp;t=17688s" target="_blank" rel="noopener" data-wpel-link="external">appearance</a> at The Bitcoin Policy Summit, Cruz explained why he is such a keen supporter of the asset and why a potential launch of a central bank digital currency would not benefit Americans. 
He admitted being &#8220;incredibly excited and bullish&#8221; on the asset, describing it as &#8220;the alfa in the crypto sphere.&#8221; The politician also put his name on the list of people who view BTC as digital gold.
Cruz believes its main merit is its ability to serve as a hedge against the worrying inflation that has spread across the US and many other countries. He backed the thesis that BTC&#8217;s hard cap of 21 million coins ever to exist could give the asset anty-inflationary characteristics. 
The fixed supply contracts with the limitless printing of fiat currency that central banks could and have executed (especially during the COVID-19 pandemic). Cruz criticized the American authorities for allowing this policy and thus lifting inflation to unseen levels in years:
<blockquote>&#8220;We see inflation all across the country driven by this spending binge that happened in the last two years in Washington that unleashed significant inflation.&#8221;</blockquote>
<figure id="attachment_172775" aria-describedby="caption-attachment-172775" style="width: 667px" class="wp-caption aligncenter"><a style="font-weight: bold; background-color: transparent; font-size: 16px;" href="https://cryptopotato.com/wp-content/uploads/2022/02/Ted_Cruz.jpg" data-wpel-link="internal"><img class="wp-image-172775" src="https://cryptopotato.com/wp-content/uploads/2022/02/Ted_Cruz.jpg" alt="Ted_Cruz" width="667" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2022/02/Ted_Cruz.jpg 1201w, https://cryptopotato.com/wp-content/uploads/2022/02/Ted_Cruz-300x180.jpg 300w, https://cryptopotato.com/wp-content/uploads/2022/02/Ted_Cruz-1024x614.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2022/02/Ted_Cruz-768x460.jpg 768w, https://cryptopotato.com/wp-content/uploads/2022/02/Ted_Cruz-50x30.jpg 50w" sizes="(max-width: 667px) 100vw, 667px" /></a><figcaption id="caption-attachment-172775" class="wp-caption-text">Ted Cruz: Source: CNN</figcaption></figure>
Another reason why the Republican adores BTC is that it can&#8217;t be controlled by governments, saying this is why China prohibited all operations involving cryptocurrencies:
<blockquote>&#8220;I like bitcoin for the same reason that the Chinese communist government doesn&#8217;t like bitcoin. They don&#8217;t like bitcoin, and they banned it because they can&#8217;t control it.&#8221; </blockquote>
Subsequently, Cruz admitted being a bitcoin investor, having a little more than 2 BTC. He also has a standing purchase order every Monday to increase his exposure, regardless of the momentum valuation.
<h2 id="span-data-preserver-spaces-true-cbdc-should-not-pop-up-in-the-us-span">CBDC Should not Pop up in the US</h2>
Besides highlighting his support for bitcoin, Cruz argued that the potential launch of a digital dollar could harm the local monetary system:
<blockquote>&#8220;I&#8217;m very concerned about the risk of a CBDC. I think that is exceptionally dangerous; we see China moving forward with the intention of using a CBDC to destroy all the value of bitcoin, to destroy anonymity, to destroy decentralization.&#8221;</blockquote>
The Senator <a class="editor-rtfLink" href="https://cryptopotato.com/sen-ted-cruz-introduces-a-bill-to-prevent-the-fed-from-issuing-a-cbdc/" target="_blank" rel="noopener" data-wpel-link="internal">introduced</a> a bill last year that aims to restrain the Federal Reserve from issuing such a financial product. 
<blockquote>&#8220;This bill goes a long way in making sure big government doesn&#8217;t attempt to centralize and control cryptocurrency so that it can continue to thrive and prosper in the United States. We should be empowering entrepreneurs, enabling innovation, and increasing individual freedom – not stifling it,&#8221; he stated back then.</blockquote>
Featured Image Courtesy of CNN
The post <a href="https://cryptopotato.com/heres-why-senator-ted-cruz-likes-and-owns-bitcoin/" rel="nofollow">Here&#8217;s Why Senator Ted Cruz Likes and Owns Bitcoin</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Here’s Why Senator Ted Cruz Likes and Owns Bitcoin

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