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Ted Cruz: Texas Should Be "Ground Zero" for Crypto Industry

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Thu, 03/03/2022 - 16:07
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Alex Dovbnya
Texas Senator Ted Cruz sees his state becoming the world's biggest cryptocurrency hub, doubling down on his support for the fledgling sector
Ted Cruz: Texas Should Be "Ground Zero" for Crypto Industry
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Texas Senator Ted Cruz has shared some words of support for crypto in his recent tweet, claiming that the "Lone Star State" should become "ground zero" for the industry.

The 51-year-old politician shared a picture from his meeting with "Mr. Wonderful," Kevin O'Leary, who has turned into a cautiously optimistic cryptocurrency advocate.

In February, Cruz, a former Republican presidential candidate, disclosed a Bitcoin purchase that was worth up to $50,000 made with the help of the River brokerage.

Cruz's allegiance to Bitcoin does not come as a surprise given that energy-rich Texas is a major Bitcoin mining hub.

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Texas Governor Greg Abbott has also repeatedly spoken favorably of the largest cryptocurrency in order to lure Bitcoin mining businesses from the U.S. and other countries. Cruz also touted Bitcoin could help to solve the state's persistent power grid issues.

In November, the Texas senator also introduced a bill that would make it possible for merchants on Capitol Hill to accept cryptocurrencies.

As reported by U.Today, Cruz revealed his pro-Bitcoin stance last June, claiming that the largest cryptocurrency has a lot of potential.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.