One of the reasons I’m bullish on Bitcoin is because it’s decentralized, says US Senator Ted Cruz. The Republican believes the Left hates the popular cryptocurrency because they can’t control it. Cruz gave an example of China’s blanket ban on crypto. He highlighted that bitcoin cannot be controlled by governments.
Addressing the Conservative Political Action Conference (CPAC), Cruz said BTC has a bright future due to its highly decentralized feature. He pointed out that the Canadian government enacted emergency regulations to stem the Freedom Convoy Truckers’ protest against COVID-19 restrictions. The Trudeau-led government directed banks to freeze the accounts of protesters, including cryptocurrency exchange platforms and digital wallet service providers
However, a non-custodial wallet service provider Nunchuck requested the Canadian government to look into self-custody wallets and private keys. It highlighted that they do not have access to any of their users’ financial information other than their email addresses.
Cruz found this amazing and said governments can’t regulate bitcoin. He described bitcoin as apolitical and believes that politicizing it as “Left against Right” is a mistake. The senator is on the list of growing American politicians, such as Miami Mayor and New York Mayor, putting their weight behind bitcoin. Cruz is also pushing the use of waste natural gas for bitcoin mining in Texas. In November 2021, he recommended crypto payments at gift shops and vending machines at the US Capitol complex in Washington DC.