A Texas Senator Bought Bitcoin During the Cryptocurrency Dip

Tom Handy

Texas Senator Ted CruzScreenshot from Twitter

Every few months, you hear about a politician who enters the cryptocurrency market. First, it was Wisconsin Senator Cynthia Loomis who has been a strong supporter of Bitcoin. She intends to spread awareness about cryptocurrencies.

Her state, Wisconsin, is a strong supporter of using Bitcoin that even the Wisconsin School of Business created a crypto course called Finance 765 / 365 Cryptocurrencies.

Last year, Pennsylvania Senator Pat Toomey disclosed he invested in Bitcoin and Ethereum according to Barrons.

CNBC reported today that another Senator came out and released he purchased cryptocurrencies.

Austin, Texas Senator Ted Cruz disclosed he purchased up to $50,000 in Bitcoin in the recent cryptocurrency dip. This is a new financial disclosure in the US Senate. Bitcoin reached a recent low of $33,495 last month and the Texas Republican made the purchase between $36,000 to $37,000. Today, Bitcoin is $41,679.31 at the time of this writing. Cruz bought $15,001 and $50,000 of the world’s most valuable cryptocurrency on January 25.

Cruz has recently become a Bitcoin believer. In November last year, Cruz proposed a resolution that would allow merchants and food vendors serving Congress to accept cryptocurrencies as payment.

You can catch this video of Senator Cruz talking about Bitcoin.

Texas is becoming a Bitcoin mining hub as several miners operate in the state. A firm that spun off from the Chinese Bitmain, Bitdeer, and one of the largest publicly Bitcoin mining operations, RIOT Blockchain, operate in Rockdale, Texas.

Texas Governor Greg Abbott has jumped on the cryptocurrency bandwagon. Last year he tweeted that Bitcoin was coming to Texas grocery store HEB.

Another Texas grocery store, Albertsons, also has CoinStar kiosks that offer Bitcoin. I have not tried to use the kiosk for Bitcoin but will have to give this a try soon.

Have you used a Bitcoin kiosk or Bitcoin ATM?

This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.

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