Alex Coin 
The Republican politician spent between USD $15,000 and USD $50,000 on a Bitcoin purchase in late January amid the price correction.
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Rafael Edward “Ted” Cruz, the Republican senator from the state of Texas, U.S., took advantage of the recent price drop seen in the digital currency currency is a medium of exchange that defines value. market an area or arena, online or offline, in which commercial dealings are conducted. to acquire some of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. (BTC).
According to new disclosures Cruz made a purchase of a large amount of money from the U.S. Senate. Bitcoin in late January, when the price of the leading cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. was slipping below USD $40,000. The filing, dated Feb. 4, shows that the senator purchased between USD $15,000 and USD $50,000 worth of BTC on Jan. 25, through the platform a place to buy, sell and store cryptocurrency River .
According to data from CoinMarketCap , on the day of purchase, the price of the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset ranged from USD $36,000 to USD $37,000. . The reversal came in the midst of a steep bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” market that saw Bitcoin collapse from a peak near $70,000 in November 2021, to trading below $33,000 in January this year.
However, in the last few hours, Bitcoin has soared to recapture the $40,000 barrier. Assuming that the Texas senator has not yet sold his bitcoins If you’re not paying any short-term capital capital is most commonly defined as the large sum of money you would use to invest. gains gains refer to an increase in value or profit. taxes, your investment would be earning you between $2,000 and $6,900, now that BTC is trading around $41,500.
Cruz is consistent with his comments
Cruz’s buying actions echo some of his statements in recent months in defense of cryptocurrencies. During 2021, the Canadian-born politician spoke out several times in favor of cryptocurrencies. Bitcoin and the digital currency industry.
En agosto, strongly criticized una controversial provision included in the Biden administration’s Infrastructure Act that would impose stricter tax reporting rules on crypto brokers. Cruz, who introduced an amendment to remove the provision, argued that the legislative plan could stifle the country’s emerging cryptocurrency industry and “inflict billions of dollars in damage.” .
The senator had already publicly defended to the crypto ecosystem in August, during a television interview on FoxNews . “ I think [Bitcoin] has a lot of potential. I think we’re seeing huge growth in it.” Cruz said. He added that he considers inflation a general increase in prices and fall in the purchasing value of money. to be “ parte ” of the reason why people are increasingly turning to cryptocurrency.
The Republican also recently filed a resolution for traders at the U.S. Capitol. acepten cryptocurrency payments. Meanwhile, the state of Texas has been positioning itself as a crypto-friendly region for the sector. Last year, a law was passed in the state that recognizes the legality of digital currencies. At the same time, Texas has become an attractive hub for digital currency miners. Bitcoin following the exodus from China.
Cruz has not made any public comment about his investment in Bitcoin It is unclear whether this is their first crypto acquisition.
The truth is that Cruz is not the only U.S. politician who has disclosed holdings in digital assets or related stocks. Members of Congress, including Democrats Jake Auchinloss of Massachusetts and Marie Newman of Illinois, and Republicans Jeff Van Drew of New Jersey and Barry Moore of Alabama, have also made similar moves.
- U.S. Senator Cynthia Lummis reveals she bought $100,000 in Bitcoin
- New York Mayor has no regrets about cashing in Bitcoin despite falling prices
- Texas crypto miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. shut down operations due to approaching winter storm
Sources:The Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. , Cointelegraph , archivo
Article by Hannah Estefania Perez / DiarioBitcoin
Image from Unsplash edited in Canva
