US senator buys bitcoin when price drops

US senator buys bitcoin when price drops

US Senator Ted Cruz recently stated that he is “extremely bullish on Bitcoin”. At the same time, the senator also said that he “bought Bitcoin at a discount”.

Ted Cruz declares his belief that Bitcoin has been firmly established as the “big brother in the field of cryptocurrency”. Bitcoin has a positive gain in the last 24 hours, it increased more than 7% to hit $30,000 last night, although it has now back to the threshold of 29,000 USD.

bitcoin price chart

US Senator is optimistic about Bitcoin

Speaking today, US Senator Ted Cruz stated that he is “extremely bullish on Bitcoin”. In addition, the American politician said that he “bought Bitcoin when the price fell”, which shows that he bought the cryptocurrency amid a general market downturn.

Cruz did not disclose how much he bought Bitcoin at.

Cruz is known to be one of the few politicians with a positive view of cryptocurrencies made headlines when he proposed a request for Capitol Hill (where the US government is located) to accept cryptocurrency.

The proposal was made earlier this year to require vending machines and food service contractors to accept cryptocurrency payments.

In addition, Cruz also voiced opposition to the implementation of a digital currency developed by the Fed. He suggested law in March to ban the implementation of CBDCs and highlight the government’s possibility of using such a currency. He warned of the currency’s ability as a tool to monitor government finances.

Bitcoin has caught the eye in recent days. Not only through its quickly surpassing the $30,000 price tag, but also through the recent increase in the number of active addresses.

Specifically, according to data analytics company CryptoQuant reports that Bitcoin active addresses have recently surpassed levels last seen in November 2021. This shows that demand for the cryptocurrency is growing.

See also: Banking giant Standard Chartered says Bitcoin price could reach 100000 USD by the end of the year

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