A Texas crypto-paradise? – While some countries or institutions, such as the European Central Bank, promise future “insignificance” to Bitcoin and to cryptos, others have understood their revolutionary significance. This is especially the case for the US state of Texasand his senator Ted Cruz.
Ted Cruz loves Bitcoin because Washington ‘can’t control it’
It’s been quite a while since the Republican senator from Texas, Ted Cruzwishes to make his State a small paradise for bitcoin and cryptocurrencies. The politician expressed himself once again in this sense, during the recent Texas Blockchain Summit.
As Cointelegraph reports in particular, Ted Cruz is particularly interested in the bitcoin mining, which he wants to further develop in the state. He also seems to enjoy the decentralization of the king of cryptos, which preserves it from control by the US federal state. It must be said that Washington’s desire for centralization has never been much appreciated by Dallas.
“I like bitcoin because the government can’t control it. (…) The beauty of BTC mining is that it can be paused in a split second (…) when you have an extreme weather event, like extreme heat, which is common in the state of Texas. (…) It’s a huge potential reservoir of capabilities [électriques] excess which I think is very beneficial. »
Senator Ted Cruz
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The Texas senator regularly buys BTC!
Unlike other politicians, Ted Cruz is not content with lyrics. He regularly goes to acts. Indeed, he is himself investor in bitcoin. Even to the point of being maximalistsince on the other hand it would be the only cryptocurrency from its portfolio of digital assets.
“I think bitcoin is synonymous with investment. It is synonymous with opportunity. It is synonymous with prosperity. It is synonymous with financial independence. I also think the boom in bitcoin mining in Texas has a huge positive benefit to network resilience. [électrique]. »
Senator Ted Cruz
The US legislator refers here to precious help that crypto-miners brought to the state during the summer of 2022. Indeed, taken in full heat wave summer, the Texas authorities strongly appreciated that BTC miners make their electricity production available serving the overloaded network.
Which in addition, in the end, brought a mutual benefit. Indeed, bitcoin miners have affected by juicy “energy credits” for their efforts. Credits that have largely compensated stopping their production of BTC. As Senator Ted Cruz aptly put it, Bitcoin mining creates overcapacity beneficial electricity for the Lone Star State.
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