Representative of Texas, Senator Rafael Ted Cruz, on January 25, 2021, bitcoin announced that he made a $50,000 BTC purchase while the price was at its bottom.
Ted Cruz Has Already Made 12-13% Profit From Bitcoin Investment
At the time Cruz bought Bitcoin, the BTC price was hovering between $36,000 and $37,000.
world’s largest cryptocurrency Considering that it is currently trading at around $41,000, we see that the senator has made a profit of approximately 12-13%.
This led to comments that the senator could buy BTC from the bottom.
However, Ted Cruz has made many crypto-friendly statements in the past.
US senators are required to disclose the products they invest in to the public at certain intervals. We learned earlier that many US politicians invested in Bitcoin and various altcoins.
Massachusetts representative Jake Auchinloss, Illinois representative Marie Newman, New Jersey Representative Jeff Van Drew and Alabama representative Barry Moore have previously publicly stated that they own cryptocurrencies and related stocks.
In addition, there are reports that some large US companies have started to convert their cash reserves to BTC.
Known as a cryptocurrency-friendly state, Texas became one of the most frequent destinations for miners’ immigration after China expelled Bitcoin miners from the country.
At that time, the state organized many campaigns to attract cryptocurrency miners to the country. However, one of the state’s governor candidates, Don Huffines, announced that he would make BTC the legitimate currency if elected.