Bitcoin News: What We Know About Senator Ted Cruz’s Bullish Bet on BTC


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Cruz bought BTC while it was down last month

Senator Ted Cruz is betting on Bitcoin , with a large purchase reported in a Senate filing last month.

In January, Texas Republican Senator Ted Cruz announced that he purchased between $15,001 and $50,000 in BTC. This resulted in his purchasing the cryptocurrency while it was trading between $36,000 and $37,000.

Sen. Cruz's Bitcoin purchase comes after the cryptocurrency faced a selloff last month, resulting in a price reduction. This also took down several other cryptos, and we are only now seeing them recover.

Bitcoin is a part of the resurgence, with the cryptocurrency now selling for over $43,862 per token as of this writing. If this upward trend continues, Cruz may have made the correct option in purchasing BTC when it was at a low.

But why is the Republican Senator interested in Bitcoin in the first place? That is not difficult to understand. Texas is becoming a haven for cryptocurrency miners, and Cruz has been advocating for them in the Senate. This includes opposing additional crypto taxes and advocating for solutions that allow retailers to readily accept digital assets, according to CNBC.

Bitcoin is far from the only cryptocurrency making headlines as values rebound from January lows. Several others are also on the move today that investors should keep an eye on. You can learn more about it by clicking on this link!

BTC is up 5.1% over the last 24-hour period as of Monday afternoon.

We have all of the most recent crypto coverage that traders should be aware of right now. This contains everything going on with Cardano (CCC:ADA-USD), Axie Infinity (CCC:AXS-USD), and Floki Inu (CCC:FLOKI-USD). Check out the links below to stay up to date on all of the latest news!

More Crypto News for Monday


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