2024

Bitcoin

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 <p class="paragraph">Breaking from a tradition of appearing only infrequently in the news over his stock market activities, Senator Rafael Edward Cruz – better known as Ted Cruz – recently made a stir with a major sale of Goldman Sachs (NYSE: GS) shares.</p>
 <p class="paragraph">The event – notable as Cruz’s wife is a managing director at the financial giant – also drew attention to some of Sentor’s other trades, not the least of which being his 2022 Bitcoin (BTC) bet.</p>
 <p class="paragraph">Indeed, the Senator is substantially in the green as back on January 25, 2022 – the day Cruz bought up to $50,000 worth of BTC through the River exchange – the cryptocurrency was worth approximately $39,000.</p>
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 <p class="paragraph">Since the time of the trade, Bitcoin rose about 65.37% to the press time price of $64,483, meaning that Senator Cruz made – on the higher end of the estimate – $39,080 in just over two years of holding the coin.</p>
 <h2 class="wp-block-heading" id="h-politicians-increasingly-keen-on-bitcoin">Politicians increasingly keen on Bitcoin</h2>
 <p class="paragraph">Senator Cruz is far from the only U.S. politician who is either bullish or directly invested in Bitcoin.&nbsp;</p>
 <p class="paragraph">Perhaps the most high-profile among them is Robert Kennedy Jr, an independent presidential candidate in the November 2024 elections and the nephew of former President Kennedy.</p>
 <p class="paragraph">He has so far, for example, vowed to end the ‘White House war on Bitcoin’ and accused Congress of being paid to suppress the cryptocurrency.</p>
 <p class="paragraph">Still, Kennedy is not the only one – despite being among the most vocal – and Congressman Barry Moore seemingly decided to take advantage of the expected effects of the Bitcoin halving, having invested $15,000 in the coin in March.</p>
 <h2 class="wp-block-heading" id="h-btc-price-chart">BTC price chart</h2>
 <p class="paragraph">Though Cruz’s long-term Bitcoin trade has certainly proven profitable, more recent purchases made by other politicians and investors have yet to prove as such. Indeed, though BTC’s long-term performance – which saw it rise 118.03% in the last 52 weeks and 52.85% year-to-date (YTD) – has been strong, the world’s premier cryptocurrency has been struggling of late.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/oMJamWFvke-FCtfVFH5vJTN2cy6E46iRxElBweFaKvaO3hSlVxUM7mR3LOZc_gkRWj3yJ1_M0G8ht0qWtiGtwv94AE4lurRClreovFOr3_SJYiJG8KUT2TEPhMIYAS2f29rS3zVvMJyazpceoL747Rk" alt>
  <figcaption class="wp-element-caption">
   BTC quote and YTD price chart. Source: Finbold
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 </figure>
 <p class="paragraph">In the last 30 days, Bitcoin experienced substantial volatility and declined 7.93% while its weekly performance is similar, though with a 0.56% drop.&nbsp;</p>
 <p class="paragraph">Bitcoin price today, at press time, stands at $64,483 after a 1.03% rise on the daily chart.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/this-is-how-much-ted-cruz-is-up-on-his-bitcoin-bet-tbt86640.html">https://thebittimes.com/this-is-how-much-ted-cruz-is-up-on-his-bitcoin-bet-tbt86640.html</a></p>

This is how much Ted Cruz is up on his Bitcoin bet

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