U.S. Senator Ted Cruz explains his bullish sentiment on Bitcoin as he recently bought the dip. The way BTC is perceived has changed dramatically in the past few years. From being treated as criminal money, it is now being favored by business people, politicians, and even governments. This is where Ted Cruz came forward, explaining why he is in support of the cryptocurrency.
Here’s why Ted Cruz supports Bitcoin
Ted is against the control that the government often has over the financial property and freedom of the citizens. Bitcoin has the ability to solve this, which makes it attractive in his eyes. While explaining the same, he pointed out the recent issues in Canada. The prime minister there has been freezing the accounts of truckers protestors and those who are supporting them. They even tried to free the BTC accounts of these people. This kind of upper hand that the government has makes it a big problem for citizens.
Cruz said this is the reason he is so bullish on Bitcoin and crypto, as they are decentralized and cannot be controlled. No more examples are actually needed; what happened in Canada explains very well why there is a need for self-custody. People need to be the controllers of their money, and no one should be able to freeze or confiscate them.
China ban
Ted also explains that this is the reason that China has banned cryptocurrencies. The government cannot control it, and they do not want the power to vest in the hand of the citizens. Not just China, even many U.S. authorities like Elizabeth Warren are against Bitcoin, as they are unable to control the asset properly. They fear losing control of the citizens, and that makes BTC attractive.
He finally added, ” Warren hates bitcoin. The Chinese government and Elizabeth Warren, they both want to control you; your assets, your savings, your speech, your life, your children, every decision, they want to control. And so we need to break up the means of controlling the citizenry.” This is also one of the primary reasons that people support Bitcoin. In fact, the reason for its creation was the decentralization of money.
What are your thoughts as Ted Cruz explains his bullish sentiment on Bitcoin? And do you agree with his take on the benefits of Bitcoin? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Cash App sees huge growth in Bitcoin revenue in 2021
