During a CPAC speech in February, Cruz stated that Bitcoin and other cryptocurrencies have the potential to revolutionize the economy.
Cruz argues that Bitcoin is a hedge against inflation and financial instability, and he called on the government to do more to support the adoption of the digital currency.
Lending further credence to his crypto stance, Cruz, who calls himself “a huge proponent of Bitcoin…and of cryptocurrency,” said he believes “Washington politicians” could “screw up” the flagship cryptocurrency, and according to the U.S.
Cruz also touched on the possibility of making legal tender, saying he’s open to the idea of Bitcoin replacing the greenback.
First, the $765 billion market cap crypto is a decentralized currency, which means it is not subject to the whims of central banks or governments.
Transactions can be processed very quickly and cheaply, without the need for expensive middlemen like banks or credit card companies.