"Fuhh that's great, I don't know why he buys BTC every day."
United States (US) Senator Ted Cruz who is very confident in the potential of the cryptocurrency Bitcoin (BTC) said that he buys the digital asset every Monday morning and when the price has made a decline in the past few days.
In addition to buying more BTC, Cruz is also interested in making long-term investments in risky assets such as cryptocurrencies even though their price movements are always volatile.
He is of the view that BTC is a hedge against inflation if US politicians continue to print money while the Federal Reserve (Fed) acts aggressively in raising interest rates.
Although major governments like Russia and China oppose the concept of crypto, Cruz, who has long been fond of digital assets, revealed that he likes BTC for the same reason that communist China does not.
Lately, he has received a lot of attention from the media after proposing on Capitol Hill that food service providers and vending machines accept payments in crypto.
In addition, Cruz, who is concerned about privacy violations, is found to be strongly opposed to the establishment of a central bank digital currency (CBDC) as many countries are now exploring the new technology.
As of this writing, the price of BTC has surged by 1.79% to $28,888 in the last 24 hours with a market cap of $558 billion and is up around 0.02% over the last week.
