U.S. Senator Ted Cruz said that Bitcoin has “a lot of potential” during his recent appearance on Fox News’s “Hannity”:
Look, I think [Bitcoin] has a lot of potential. I think we are seeing enormous growth in it.
The former presidential candidate claims that a looming inflation crisis is “part of the reason” why people are flocking to Bitcoin:
We are seeing inflation. We are seeing lumber going up, homes going up, oil going up, gasoline going up, energy going up, commodities going up, and I think people are going to Bitcoin as a hedge against that.
While adding that Bitcoin “has upside,” Cruz also urged Fox News viewers to be “careful.”
The senator’s comments run counter to those of ex-president Donald Trump, who recently called Bitcoin “a scam.”
Freedom to eight billion people
Microstrategy CEO Michael Saylor—who was interviewed by Sean Hannity before Cruz—believes that Bitcoin represents “property and freedom” to eight billion people:
Bitcoin is a technical solution to give 8 billion people property rights. I can own $100 in my hand as easily as I can own $1 billion.
When asked why he prefers Bitcoin over Ethereum, Saylor replied that the former is the oldest, the strongest, and the most secure cryptocurrency.