According to newly filed financial reports with the US Senate, Sen. Ted Cruz (R-TX) purchased bitcoin during the recent slump.
Cruz made a bitcoin purchase worth between $15,001 and $50,000, according to a February 4 declaration. Cruz made the purchase through River on January 25. Bitcoin’s price was hovering slightly near $37,000 on the day of the acquisition.
Cruz has emerged as a crypto enthusiast in recent months, drafting a resolution urging shops on Capitol Hill to accept bitcoin payments and urging lawmakers to change the wording in the contentious infrastructure bill to satisfy sector concerns.
Cruz submitted an amendment to strike wording in the bill requiring digital asset dealers to comply with stricter reporting requirements. Some members of the cryptocurrency sector have expressed concern that the broker definition as written is overly wide and might include firms incapable of reporting the essential information. While other senators attempted to alter the regulations, Cruz moved to repeal the clause outright.
None of these changes were ultimately adopted before the infrastructure bill was signed into law. The Treasury is now responsible for clarifying the broker term.
Cruz’s home state of Texas has also become a bitcoin mining hotspot as miners attempt to capitalise on the state’s deregulated energy market in the aftermath of China’s crypto mining ban.
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