US Senator Ted Cruz says he is aware of what the only biggest menace is to Bitcoin (BTC) and the general crypto trade.
In a brand new interview on the Verdict Podcast, Cruz says that the largest hazard the crypto markets face is lawmakers in Washington who don’t know what they’re doing.
“I feel the only biggest menace to Bitcoin and crypto is Washington politicians screwing it up, and it’s a very actual menace.”
The one biggest menace to #Bitcoin and crypto is Washington politicians screwing it up.
On the newest episode of #Verdict, I talk about why I’m an enormous proponent of #Bitcoin and crypto. @yaf https://t.co/4piKs7B06Z pic.twitter.com/0qo5PYowkg
— Ted Cruz (@tedcruz) April 13, 2022
Nevertheless, Cruz notes that one mistake his colleagues are making is definitely rushing up the speed of adoption of the highest crypto asset by market cap, however hurting Individuals on the similar time.
“The huge spending in Washington is what’s fueling the inflation that’s hurting the American folks so profoundly proper now and it is among the issues that’s fueling the transfer to Bitcoin…
One of many causes that you’re seeing folks transfer to Bitcoin is a hedge [against] inflation. That Bitcoin, by design, can’t go over 21 million BTC. It’s a finite sum…
Foreign money provides the relative values of a very good or service vis a vis one other. When you’ve gotten politicians devaluing everybody’s items and providers, they search for different methods to retailer worth. It’s why folks in instances of inflation are drawn to gold or silver or actual property or commodities, different exhausting belongings as hedges to inflation.
So I’m an enormous proponent of Bitcoin.”
Bitcoin is exchanging fingers at $40,455 at time of writing, a 6.5% drop from its seven-day excessive of $43,337.
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