Ted Cruz – the republican senator of Texas – is fighting hard for crypto and its advocates. He’s learning more about the space and working to ensure it’s a future hub for innovation in the U.S.
Ted Cruz Is an Official BTC Fan
Not long ago, Cruz toured the facility of Riot Blockchain – one of the biggest crypto miners in existence – in Texas and discussed his experiences on social media. He stated:
I am proud to lead the fight of the crypto industry in the Senate. Texas will continue to be the center for crypto innovation.
At the time of writing, Riot is stirring the controversy pot given that its new mining facilities have evoked many angry feelings from residents in the area. They say that with Texas experiencing such a massive energy crisis in recent days, the state doesn’t need any more crypto mining to add to the fray.
But Cruz – like many crypto advocates – don’t feel that these concerns have any base. He has become a major crypto supporter in recent years, having purchased anywhere between $15K and $50K worth of bitcoin in early 2022. He also fought hard against Joe Biden’s infrastructure bill last year, which held secret verbiage aimed directly at crypto investors and their assets.
One of the things that excites me most about crypto mining in Texas is the ability to enhance resiliency of the electric grid because, in a severe weather emergency, mining can be turned off instantaneously. This, in turn, immediately frees up substantial power for Texans to use, essentially allowing the mining facility to serve as a massive battery for the grid.
In addition, he also took issue with the crypto executive order that Biden issued earlier in the year. He stated that the proposal to create a digital version of the United States dollar – which was included in the order – is designed in such a way that the government could spy on users. He mentioned:
The federal government [can] encourage and nurture innovation in the cryptocurrency space or completely devastate it. This bill goes a long way in making sure big government doesn’t attempt to centralize and control cryptocurrency so that it can continue to thrive and prosper in the United States. We should be empowering entrepreneurs, enabling innovation, and increasing individual freedom — not stifling it.
Fighting for a New Industry
In closing, he stated:
This is a new industry, and I fought in the Senate last year against a harmful provision in the infrastructure bill because I was concerned the provision was going to harm the crypto industry in Texas and drive it overseas, killing innovation. I’m continuing to learn more about this industry, and I’m excited about the ways that crypto miners are identifying new environmentally friendly ways to mine such as capturing and using otherwise vented or flared methane.