US Senator Ted Cruz Bullish On Bitcoin Because "It Can't Be Controlled"

People generally tend to loathe what they can’t control – eventually. That’s true for countries, groups, nation-states but also for Bitcoin. It recently ensued in Canada, in China, and a few more examples the world over. Bitcoin is hated for what it is meant for – to be resistant to censorship.

The U.S. Texas senator Ted Cruz has voiced his preference for Bitcoin and crypto, saying its decentralized nature will prevent aggressive governments like Canada from violating personal liberties and asset ownership rights of citizens.

In his address yesterday during the Conservative Political Action Conference 2022 which started yesterday in Florida, Cruz said China implemented a country-wide ban on cryptocurrencies for the same reason that it could not control them.

“One of the reasons why I am so bullish on crypto is it is decentralized not centralized.”

Cruz read a letter written last week by Nunchuk decentralized crypto wallet admins to Canadian authorities, in rejection of their request to freeze crypto assets donated to the Freedom Convoy 2022 protestors. Cruz called it spectacular.

In his comments, the senator said decentralization of services is needed to assure the protection of citizens’ liberties and rights in every country. He said big tech worked together with the government in threatening and violating civil liberties only to their advantage.

“That is how our country was founded…We need to break up the means of controlling the citizenry. I want an unruly uncontrollable American we the people.”

He also appeared to refer to the infrastructure bill, which contained sections that introduced crypto tax reporting requirements that could ultimately hurt centralized crypto exchanges and trading platforms in the United States. The bill received unanimous support from democrats while Ted Cruz and other Republicans opposed the crypto clauses.

The CPAC event which runs until Sunday is organized by the American Conservative Union and is the single largest gathering of conservatives in the world. It will also feature several other republicans as speakers including former president Donald Trump.

After the developments in Canada where authorities prevented the GoFundMe platform from funding the Canadian trucker protestors, the event organizers had to implement a payment platform that is resistant to political risks. The Revere Payments is being used in processing the CPAC tickets and fundraising payments. They expressed the choice would make sure that CPAC was not de-platformed or restricted from taking political stances.

According to the founders, the global Revere Payment platform was also established in the realization that many companies in the United States were losing revenues as a result of their conservative or religious beliefs.

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