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United States Senator Ted Cruz has said he remains \u201cincredibly bullish on bitcoin\u201d which he described as the \u201calpha in the crypto sphere.\u201d According to Cruz, people are attracted to bitcoin because they see it as a hedge against inflation and also as an \u201cimportant check\u201d against government spending. <\/strong><\/p>\n United States Senator Ted Cruz has said he is \u201cincredibly bullish on bitcoin\u201d and he still believes the \u201cinsight that led to its creation is still extraordinary.\u201d In his remarks at an event organized by the Bitcoin Policy Institute, Cruz insisted bitcoin is the \u201calpha in the crypto sphere\u201d because it came first and \u201cis the most dominant one.\u201d<\/p>\n The remarks<\/a> by Cruz, a Republican from Texas, came at a time when the Biden administration has upped the ante in its fight against the crypto industry. As has been reported<\/a> by Bitcoin.com News since the start of 2023, U.S. officials and agencies have targeted crypto entities as part of the so-called Operation Chokepoint 2.0. The Securities and Exchange Commission (SEC) charges have ranged from illegally selling securities to American citizens to promoting these without the requisite permissions.<\/p>\n “I am incredibly bullish on #Bitcoin<\/a>.\u201d \u2013 Senator @TedCruz<\/a> pic.twitter.com\/595jRKSwna<\/a><\/p>\n \u2014 Michael Saylor⚡️ (@saylor) April 27, 2023<\/a><\/p>\n<\/blockquote>\n In response to the crackdown which is being spearheaded by the SEC, Republican senators including Cruz have slammed the regulatory body\u2019s chairperson Gary Gensler. Others like the pro-crypto U.S. Senator Tom Emmer claimed <\/a>that Gensler\u2019s actions are \u201cpushing innovation into the hands of a communist country.\u201d Senator Cynthia Lummis, a BTC<\/a> advocate and investor, also voiced<\/a> her displeasure with the SEC\u2019s crypto regulation approach.<\/p>\n Meanwhile, in his address at the Bitcoin Policy Institute event, Cruz explained why he and many others are attracted to bitcoin.<\/p>\n \u201cOne of the attractions to bitcoin is as a hedge against inflation and particularly when you have irresponsible politicians in Washington that spend money like drunken sailors,\u201d Cruz said.<\/p>\n Cruz added that the printing of trillions of dollars over the past two years had led to what he described as \u201csignificant inflation.\u201d According to Cruz, since BTC<\/a> is less \u201csusceptible to government control\u201d it can therefore act as an \u201cimportant check\u201d against wasting government spending.<\/p>\n The Texas Senator also claimed that he likes BTC<\/a> for the \u201csame reason that the Chinese Communist government doesn\u2019t like bitcoin.\u201d<\/p>\nBitcoin Is Still the \u2018Most Dominant\u2019<\/h2>\n
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BTC<\/a> a Hedge Against Inflation<\/h2>\n