Senator Ted Cruz, during his Conservative Political Action Conference (CPAC) speech on Friday, again advocated for Bitcoin (BTC) while praising its decentralization.
Cruz said that he is very bullish on Bitcoin because it is highly decentralized and cannot be controlled by any government or entity. He went on to cite the example of an ongoing problem in Canada, where the government has implemented emergency laws in retaliation for Freedom Convoy truckers protesting COVID-19 vaccination mandates.
The Canadian government asked financial institutions and banks to freeze protesters’ accounts, followed by an order for crypto exchanges and crypto wallet service providers to do the same. Non-custodial wallet service provider Nunchuck received a similar order, and his response to the government went viral, ultimately reaching CPAC via Cruz.
One of the reasons I’m bullish on #bitcoin is because it’s decentralized.
The Left hates Bitcoin because they can’t control it. #CPAC2022 pic.twitter.com/D4PYNacNBZ
— Ted Cruz (@tedcruz) February 25, 2022
Cruz read the response from the Bitcoin wallet service provider, which asked the Canadian government to read up on self-custody wallets and private keys. The response also noted that Nunchuck does not have access to any of its users’ financial information beyond their email address, which is by design.
The senator called Nunchuck’s response “spectacular” and went on to cite the example of the Chinese ban on cryptocurrencies to suggest that Bitcoin cannot be controlled by governments.
Senator Cruz has joined the growing list of US politicians defending Bitcoin, advocating the use of waste natural gas for Bitcoin mining in Texas and recently buying the Bitcoin crash. However, his spread about the left being anti-Bitcoin, citing Canadian Prime Minister Justin Trudeau as an example, was not well received among crypto enthusiasts on Twitter. One user wrote: “Bitcoin is apolitical and politicizing it as ‘left vs. right’ is wrong.”
Politicizing it as left vs right is the wrong angle Senator. Bitcoin is apolitical.
— Ben Fairclough (@BFairclough23) February 25, 2022
Another user noted that Cruz being a politician, he is using Bitcoin knowledge to his advantage and suggested that opponents become more pro-Bitcoin to counter him.
He’s a politician using his understanding of #bitcoin to his advantage.
The only winning move for his political opponents are to be more pro-bitcoin.
— Seha Islamâš¡ (@sehaiislam) February 25, 2022
It is important to note that while there are policymakers making efforts at the judicial level to introduce changes to the law for Bitcoin adoption, such as Miami Mayor Francis Suarez, Senator Cynthia Lummis, and a few others, most of them seem to be focused on using cryptocurrency as a tool for their political campaigns.
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