Senator Ted Cruz, during his Conservative Political Action Conference speech (CPAC), on Friday, advocated for Bitcoin (BTC), while also praising its decentralization.
Cruz stated that he is bullish about Bitcoin because it is decentralized and can’t be controlled by any government. He cited the Canadian example of an ongoing problem where the government enforced emergency laws in retaliation for the Freedom Convoy trucker protest against COVID-19 mandates.
Canadian authorities asked banks and financial institutions to immediately freeze accounts of protestors. Then, they issued an order to all crypto exchanges and wallet service providers to do so. Nunchuck, a non-custodial wallet provider, was also issued a similar order. Its response to the government went viral and eventually made its way to Cruz.
Decentralization is one of the reasons why I am bullish on #Bitcoin. Because they don’t have control over Bitcoin, the Left is against it. #CPAC2022 pic.twitter.com/D4PYNacNBZ
Ted Cruz (@tedcruz), February 25, 2022
Cruz reviewed the response from the Bitcoin wallet provider. It asked the Canadian government for information about self-custody wallets, and private keys. The response stated that Nunchuck does not have access to financial information of users other than their email address. This is intentional.
Senator Nunchuck called Nunchuck’s reply “spectacular”, and cited the Chinese crypto ban as an example to show that governments cannot control Bitcoin.
Related: US Senator submits Resolution to Allow Crypto Payments in Capitol Complex
Senator Cruz joined the growing number of American politicians who support Bitcoin. He supported the use of waste natural gas to mine Bitcoin in Texas, and he also purchased the Bitcoin dip. Crypto Twitter didn’t like his assertion that the Left is anti-Bitcoin and citing Justin Trudeau, Canada’s Prime Minister, as an example was not well received. One user said, “Bitcoin’s apolitical” and that it is wrong to politicize it as “left or right”.
Senator, it is wrong to view it as left vs. right. Bitcoin is not political.
— Ben Fairclough (@BFairclough23), February 25, 2022
Another user pointed out that Cruz, a politician, is using Bitcoin knowledge in his favor and suggested that the opponents be more pro-Bitcoin in order to counter him.
He is a politician who uses his #bitcoin knowledge to his advantage. His only win for his political opponents is to be pro-bitcoin.
— Seha Islam (@sehaislam) February 25, 2022
It is important that we note that although there are some policymakers who attempt to change the law regarding Bitcoin adoption at the judicial level, like Senator Cynthia Lummis, Miami Mayor Francis Suarez and Senator Cynthia Lummis, the majority seem to be focused on using the tool as a tool in their political campaigns.