Cryptocurrency

Bitcoin: US Senator Ted Cruz Joins Crypto Investors

Bitcoin: US Senator Ted Cruz Joins Crypto Investors

  • United States Senator Ted Cruz has joined Bitcoin investors by buying the cryptocurrency following its last dip
  • The disclosure revealed that the Texan bought between 15,001 and $50,000 worth of the cryptocurrency
  • When it was acquired the coin was trading around $36,000 to $37,000

United States senator Ted Cruz bought bitcoin during its recent dip last month, according to a new financial disclosure with the U.S. Senate.

The Texas resident bought between $15,001 and $50,000 worth of the world’s largest cryptocurrency on January 25th, the disclosure revealed. The report claims that the transaction was completed using the brokerage River.

At the time of his acquisition, the flagship cryptocurrency was trading between $36,000 and $37,000, after a sell-off that sparked fears among investors.

The digital currency has since bounced back and it is trading at $41,500. Despite the recent rise, Bitcoin remains some way off its all-time high attained in November 2021.

The Texas Republican has been familiarizing himself with Bitcoin in recent months and throwing support behind it, as the state emerges as a mining hub for cryptocurrency.

In August, Ted Cruz spoke against provisions in the bipartisan Senate bill that proposed new tax rules for cryptocurrency companies and brokers.

Ted Cruz

In November, he also proposed a resolution that would allow food vendors and other merchants offering goods at the congress to accept cryptocurrency as payment.

Follow Naija.FM on our social media handles FacebookInstagram, and Twitter to keep up with trending news, breaking news, entertainment news, and hot gist.

Show More

Related Articles

Back to top button