JAKARTA – The appearance of the United States senator, Ted Cruz on a Fox News Hannity television show was quite surprising to the public. Because Cruz said that people invest in Bitcoin because they believe in the US dollar which is on the verge of inflation.
"We're looking at inflation, I think people will use Bitcoin as a store of value against that", Cruz said, quoted by Bitcoin News.
Previously, US senator Elizabeth Warren issued a negative statement regarding Bitcoin some time ago. Warren stated that Bitcoin transactions require a lot of energy. He also called Bitcoin cs a “wild” investment.
On the other hand, US senator Ted Cruz understands that people believe in Bitcoin more. Because the United States is on the verge of an inflation crisis. Cruz also said that the Biden administration had damaged the US economy with its foreign policy.
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“If you look at Biden's foreign policy and you divide the world into two groups, our friends and foes. What did Biden do? He weakens and weakens our friends systematically over and over again", Cruz said.
In addition, Senator Cruz also argues that Bitcoin has a chance for mass adoption because people are worried about inflation and the Biden administration's proposed spending.
“I think part of the reason we are seeing people turning to Bitcoin is that we are on the verge of an inflation crisis and Joe Biden has proposed seven trillion dollars in new spending”, Cruz told Sean Hannity at the event.
“We see inflation, what we see (price) of wood go up, (the price of) houses go up, (the price of) gasoline go up, the energy goes up, commodities go up. And I think people will use Bitcoin as a store of value against that (inflation)”.
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