During his Conservative Political Action Conference (CPAC) address on Friday, Republican Senator Ted Cruz campaigned for Bitcoin (BTC) once more, praising its decentralisation. Cruz believes Bitcoin is a good investment since it is extremely decentralised and cannot be controlled by any government or institution. He went on to highlight an ongoing problem in Canada, where the government used emergency legislation in reprisal for the Freedom Convoy truckers’ protest against COVID-19 regulations.
Surprised to say it, but great speech Ted Cruz https://t.co/ummHtk75hB
— —-Linear Trav—- (@3DNuts) February 25, 2022
The Canadian government directed financial institutions and banks to freeze protestors’ accounts, followed by a directive to cryptocurrency exchanges and crypto wallet service providers to do the same. Nunchuck, a non-custodial wallet service provider, received a similar request, and their answer to the government went viral, finally reaching CPAC via Cruz.
Cruz reviewed the Bitcoin wallet service provider’s answer, which requested the Canadian government to educate itself on self-storage wallets and private keys. The statement also said that, by design, they do not have access to any of their users’ financial information other than their email address.
Ted Cruz just said he likes Bitcoin because it is decentralized and uncontrollable.
Eventually every American politician will become pro-bitcoin. pic.twitter.com/9MLY8cY26S
— Pomp 🌪 (@APompliano) February 25, 2022
Senator Cruz, who has campaigned for the utilisation of waste natural gas for Bitcoin mining in Texas and recently purchased the Bitcoin dip, has joined the expanding number of American lawmakers rallying behind Bitcoin. However, his assertion that the left is anti-Bitcoin, mentioning Justin Trudeau as an example, was met with scepticism on crypto Twitter.
According to one user, Bitcoin is apolitical, and politicising it as “Left vs. Right” is a bad idea. Another commenter pointed out that Cruz, as a politician, is utilising his Bitcoin expertise to his advantage, and that his opponents should become more pro-Bitcoin in order to oppose him.