Senator Ted Cruz says Bitcoin (BTC) represents freedom and decentralization

Pro-Bitcoin senator, Ted Cruz, has come out to discuss the latest situation with Bitcoin during the Canada Freedom Convoy protests. The politician praised Bitcoin for being decentralized.

Cruz has been a Bitcoin (BTC/USD) supporter for the longest time, and during the recent Bitcoin dip, he reportedly increased his holdings by buying $50,000 worth of Bitcoin.

Ted Cruz lauds Bitcoin for being decentralized

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Ted Cruz criticized the Emergency Act enforced by Justin Trudeau, the Canadian Prime Minister. The enforcement of this act allowed banks in Canada to freeze user accounts without needing a court order. Dozens of crypto wallets were also frozen.

According to Cruz, Bitcoin represented freedom and decentralization. Because Bitcoin could not be controlled by anyone entity or government, it was being vehemently opposed, which is why China banned private cryptocurrencies last year.

Cruz further attacked the senior senator of Massachusetts, Elizabeth Warren, saying that she also opposed Bitcoin for similar reasons. Warren said,

The Chinese communists and Elizabeth Warren both want to control your assets, your savings, your speech, your life, your children, every decision.

Warren has vehemently opposed digital assets in the past for being volatile and “highly opaque.” She has also urged the US government to introduce tough regulations on the sector.

In Canada, the government required local cryptocurrency exchanges to freeze accounts of users linked to the protests. However, some people resulted in self-custodial wallets. Cruz cited a response given to the Canadian government by Nunchuck, a non-custodial company.

Nunchuck said,

Our software is free. We do not collect any user identification and information beyond email addresses. Therefore, we cannot freeze our users’ accounts. We cannot prevent them from being moved. This is by design.

American politicians and Bitcoin

American lawmakers have been involved in trading cryptocurrencies despite the lack of a clear crypto regulatory framework. Some legislatures who had attacked Bitcoin in the past year are now supporting it.

Senator Cynthia Lummis is also a Bitcoin supporter and a HODLer. In 2021, she bought between $50,000 and $100,000 worth of Bitcoin. In 2013, she bought five BTC for around $300 each. Other crypto-friendly politicians include Barry Moore, Marie Newman, Mark Green and Michael Waltz.