Are Democrats Anti-Crypto? Texas Senator Ted Cruz [R] Buys Bitcoin.

Republicans have been quick to draw attention to their crypto activities, but are all Democrats ignoring the sector entirely?

As Bitcoin’s price falls, Ted buys it.

Ted Cruz, a well-known Republican senator from Texas, confirmed in fresh financial reports issued on Friday, February 5, that he had purchased his first proportion of bitcoin.

It was revealed that between $15,000 and $50,000 was spent on the purchase of bitcoin through River Financial on January 25, 2018. According to CoinMarketCap, the price of bitcoin was between $35,000 and $37,000 on that particular day. Perhaps the Lone Star State’s junior senator purchased one full bitcoin during the recent decrease in prices.

Bitcoin mining may be used as a renewable energy asset to assist repair the grid problems in Texas, which the Senator has expressed an openness to using.

“A lot of the discussion around bitcoin views bitcoin as a consumer of energy,” said Cruz at the Texas Blockchain Summit event in October. “The perspective I’m suggesting is very much the reverse, which is as a way to strengthen our energy infrastructure.”

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There is a lot of negativity surrounding the crypto sector, and the industry as a whole is working to change that. When it comes to the energy potential of cryptocurrency, Cruz is stepping up his public defence of the technology by purchasing and hoarding it.

Are Democrats Anti-Crypto

Cryptocurrency proponents in Washington, DC, including as Sen. Ted Cruz and other Republicans, continue to outpace their Democratic counterparts in their support of the technology. Leading Democrats like Elizabeth Warren have taken a firm stance against virtual currencies like bitcoin and other altcoins. Chairman Gensler of the Securities and Exchange Commission (who was appointed by Vice President Biden) has likewise taken a tough stance. There are many Republicans who despise cryptography, but more voices are coming from the left than from the right.

Democratic incumbents and newcomers alike, like Cruz, are pro-crypto, hoping to dispel erroneous notions about the business. It was on February 4 that Shrina Kurani and Morgan Harper spoke on Laura Shin’s ‘Unchained Podcast’ to explain some of the disinformation about pro-crypto Democrats in the House and Senate races in California and Ohio. Several times, the conflict between climate change and cryptocurrency was raised.

“Especially as someone who identifies the to need to address the climate crisis from an economic perspective, for some people it could be viewed as inconsistent to be willing to talk about crypto and blockchain technology and also have the position as a strong climate advocate,” Harper told Shinn.

Many Washington lobbying groups, such as the Blockchain Association, have made it clear that any candidates running in the 2022 midterm elections with an anti-crypto agenda will face fierce opposition. While the crypto industry awaits with bated breath the incoming Executive Order of the Biden Administration. It’s evident which party is more supportive of crypto, but some Democrats are aiming to change this.

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