Trade Analysis & Reviews: 10.02.2022 - US senators actively buying...

10.02.2022 06:42 PM

US senators actively buying up cryptocurrency

Senators have become increasingly active in buying cryptocurrencies and favouring them over fiat. This is not the first time Senator Ted Cruz has bought cryptocurrency. He recently bought $50,000 of bitcoin, making him confident that Bitcoin will be his ideal investment and the best way to keep his money during the coming inflation.

Cruz believes bitcoin has tremendous growth prospects and that the United States will not be able to fully embrace and strictly regulate it.

Cruz is a Texas senator and is one of the crypto-enthusiasts who actively supports cryptocurrency and defends it at Senate meetings.

He also actively supports miners in his home state of Texas. Cruz has previously spoken out against a cryptocurrency tax, dating back to August 2021.

The senator is opposed to the law being passed and $28 billion of taxpayers' tax dollars going into state coffers. Cruz has also previously provided a resolution for merchants and shops that sell goods on Capitol Hill in Washington to accept payment in bitcoin.

Another crypto evangelist and long-time hodler is Pennsylvania Senator Patrick Toomey. Toomey has his own portfolio in which he keeps investment instruments as well as Bitcoin.

In addition to buying Bitcoin, he also has ETFs of such investment funds as Grayscale Bitcoin Trust and Grayscale Ethereum Trust.

Cynthia Lummis, a senator from Wyoming, is one of the most crypto-savvy politicians in the US. She recently bought $250,000 of bitcoins, making her the most invested female politician in the US.

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