Ted Cruz taking advantage of the Bitcoin dip
Rafael 'Ted' Cruz has taken advantage of the recent Bitcoin dip, and it seems that the junior Republican senator from Texas is now getting behind the world's biggest cryptocurrency. The confirmation of the fact that the senator is buying BTC can be seen in a financial disclosure filed on Friday, 4th Feb.
Ted Cruz buying Bitcoin
The financial disclosure from Ted Cruz has revealed that the senator bought Bitcoin worth between $15K and $50K. It seems that the senator is ready to take advantage of the BTC bull run, following the footsteps of Senator Cynthia Lummis of Wyoming.[caption id="attachment_197966" align="alignnone" width="1108"]
Source: United States Senate Financial Disclosures[/caption]
Moreover, Ted Cruz has also spent a lot of time getting acquainted with the blockchain and crypto space. He also recently submitted a proposal called the ACCEPT proposal, which will allow the acceptance of Bitcoin at all gift shops, restaurants, and vending machines located within the Capitol Complex.
Moreover, he also had recently opposed the provision regarding crypto regulation in the $1 trillion dollar Infrastructure Bill. Ted Cruz and other lawmakers have been worried about the term "broker" in the Bill, which needs to be cleared up, as per a recent report from Cryptonary.
Bitcoin adoption
Ted Cruz is not the only person who has bought the recent dip of Bitcoin. As per a previous report, MicroStrategy has continued to buy Bitcoin, followed by Mayor of New York Eric Adams, who received his first paycheck in Bitcoin. Furthermore, MicroStrategy announced a two-day virtual conference on the benefits of BTC.Recently, Bitcoin mining firm Bitfarms completed a purchase of 1,000 Bitcoin units worth $43.2 million in just the first week of 2022, and it seems that the adoption rate for BTC has been at an all-time high. It is also important to note that due to the rising adoption of Bitcoin, BTC cycles have continued to expand beyond 4 years.
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