{"id":23342,"date":"2023-09-10T03:23:38","date_gmt":"2023-09-10T03:23:38","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ted-cruz-champions-bitcoins-role-in-texas-economy\/"},"modified":"2023-09-10T03:23:38","modified_gmt":"2023-09-10T03:23:38","slug":"ted-cruz-champions-bitcoins-role-in-texas-economy","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ted-cruz-champions-bitcoins-role-in-texas-economy\/","title":{"rendered":"Ted Cruz Champions Bitcoin’s Role in Texas’ Economy"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Ted Cruz, the Senator from Texas, is no stranger to expressing his support for bitcoin<\/a> (BTC). On Friday, he used the platform X, previously known as Twitter, to communicate his thoughts after a discussion with Forbes journalist Mickey Koss.<\/p>\n

\u201cI\u2019m bullish on Bitcoin,\u201d said Cruz. \u201cWith its love for freedom, Texas is a perfect fit for the digital asset industry. Already, it\u2019s contributing positively to our economy and grid.\u201d<\/p>\n

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Cruz highlighted the positive economic shift in Texas during his interaction with Koss. \u201cGiven our commitment to jobs, innovation, and freedom, Texas stands out as a global center for the digital asset community,\u201d he noted.<\/p>\n

Rewinding a bit, Cruz\u2019s advocacy for bitcoin isn\u2019t recent<\/a>. He unveiled a \u201cweekly buy\u201d approach for his investment endeavors back in May 2022. Just last April, he spoke highly of bitcoin, pointing out his support for BTC stems from reasons quite opposite to those of the Chinese Communist government.<\/p>\n

Moreover, public records from February 2022 show Cruz\u2019s significant bitcoin purchase, which was close to $50K. In a recent conversation with Forbes, he elaborated on the connection between bitcoin mining and its positive implications for ERCOT.<\/p>\n

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This connection became evident when Riot Platforms stepped up to aid ERCOT this past August. They managed to adjust their energy use, thereby helping in meeting energy requirements. Cruz further detailed that bitcoin mining can make a marked difference in reducing flare gas emissions. They can achieve this by utilizing excess energy in their mining processes.<\/p>\n

Elaborating, Cruz mentioned to Koss, \u201cIn West Texas alone, we burn half of the natural gas being flared in the U.S., primarily due to a lack of proper infrastructure. Such energy goes to waste.\u201d<\/p>\n

On the flip side, Cruz isn\u2019t as optimistic about central bank digital currencies (CBDCs). He\u2019s even taken steps to introduce legislation that would prevent the U.S. Federal Reserve from introducing a CBDC with tracking capabilities. Unlike bitcoin, CBDCs rely on centralized blockchains, which allow for monitoring of transactions and potentially even freezing or seizing of funds \u2014 something that\u2019s not possible with decentralized assets like bitcoin.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) Ted Cruz, the Senator from Texas, is no stranger to expressing his support for bitcoin (BTC). On Friday, he used the platform X, previously known as Twitter, to communicate his thoughts after a discussion with Forbes journalist Mickey Koss. \u201cI\u2019m bullish on Bitcoin,\u201d said Cruz. \u201cWith […]<\/p>\n","protected":false},"author":5,"featured_media":23343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23342"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23342"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23343"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}