US Senator Says Bitcoin Will Be Bullish, Here's Why

US Senator Ted Cruz views Bitcoin positively. (Kanchanara-Unsplash)

JAKARTA – Ted Cruz is a US senator who views Bitcoin (BTC) positively. Cruz expressed his views on BTC at a political conference, the Conservative Political Action Conference (CPAC) on Thursday last week.

Cruz mentioned the reason he was so optimistic about cryptocurrencies, especially Bitcoin.

“One of the reasons why I am so optimistic about crypto, on bitcoin, is because it is decentralized and uncontrollable.”

He also alluded to Justin Trudeau's dislike of him and truck drivers. Trudeau also plans to freeze the crypto assets of Cruz and the drivers. “So the court tried to freeze the crypto given to the truck driver.”

Senator Cruz went on to read a letter from a bitcoin wallet company called Nunchuck to an Ontario Superior Court Judge. The company received an order from a court on February 18 to freeze and disclose information about assets involved in the Freedom Convoy movement.

For information, Freedom Convoy is a protest action carried out by truck drivers against the mandate and restrictions of the Covid-19 regulations.

In a letter to the court, the Nunchuck team explained that it was a “multisig-collaborative Bitcoin wallet.” Citing that it is a “software provider, not a custodial financial intermediary.”

“We cannot 'freeze' our users' (crypto) assets. We cannot prevent them from being moved. We have no knowledge of the 'presence, nature, value and location' of our users' assets. This is already designed,” the company wrote.

The letter ends with the company urging the court, "Please find out how to restrain yourself and how private keys work."

It didn't stop there, Cruz also revealed China's inability to control cryptocurrencies. China finally banned Bitcoin and various crypto-related activities including the trading and mining of blockchain-based digital money. It is also what makes US senator Elizabeth Warren hate Bitcoin.

"Communist China and Elizabeth Warren, they both want to control you, your assets, your savings, your speech, your life, your children — every decision — they want to control, so we have to break the point of controlling citizens," he stressed.

The senator from Texas is a bitcoin holder. In February, he reportedly bought BTC worth between 15,001 and 50,000 US dollars.

Senator Warren has repeatedly attacked bitcoin, citing environmental concerns and investor protection. He has urged the US Securities and Exchange Commission (SEC) to exercise “full authority” to regulate crypto trading.