Republicans have been sharp to take the spotlights regarding crypto moves, but are all Democrats ignoring the industry?
Ted Buys Bitcoin Dip
Renowned Republican Texas Senator Ted Cruz bought his first percentage of bitcoin, confirming the purchase in new financial disclosures released on Friday, February 5.
The purchase of bitcoin was disclosed between $15,000-$50,000 and completed through River Financial on January 25. The price of bitcoin on that day was between $35k-$37k, according to CoinMarketCap. It is possible the junior Senator from the Lone Star State bought an entire bitcoin during the recent dip.
The Senator has shown an openness to cryptocurrencies where bitcoin mining can function as a clean energy asset to help fix the abysmal grid problems in Texas.
“A lot of the discussion around bitcoin views bitcoin as a consumer of energy,” said Cruz at the Texas Blockchain Summit event in October. “The perspective I’m suggesting is very much the reverse, which is as a way to strengthen our energy infrastructure.”
The crypto industry as a whole is trying to shake the image of negativity in many forms. Cruz is taking a solid public stand by buying and hodling crypto while also boosting his stock in defending the energy capabilities of the technology.
Are Democrats Anti-Crypto?
Cruz and other Republicans continue to be the strongest advocates for cryptocurrencies in Washington DC, while their counterparts across the aisle do not seem as keen on the technology. Notable leaders in the Democratic Party, like Elizabeth Warren, have taken strong stances against cryptocurrencies. Even SEC Chairman Gensler (appointed by President Biden) has also taken a hard line. Don’t get me wrong, there are many Republicans who loathe crypto, but more voices are coming from the Left.
Some veteran and incoming Democrats are pro-crypto like Cruz and are also looking to shatter the misinformed stereotypes about the industry. Two such candidates, Shrina Kurani, a Democrat running for a House seat in California, and Morgan Harper, a Democratic candidate running to represent Ohio in the US Senate, joined Laura Shin’s ‘Unchained Podcast’ on February 4 to debunk the misinformation around a pro-crypto stance fallen on my Democrats. The clash between climate and crypto came up several times.
“Especially as someone who identifies the to need to address the climate crisis from an economic perspective, for some people it could be viewed as inconsistent to be willing to talk about crypto and blockchain technology and also have the position as a strong climate advocate,” Harper told Shinn.
While the crypto industry awaits with bated breath on the Biden Administration’s incoming Executive Order, popular Washington lobbyists groups, like the Blockchain Association, have made it clear that candidates running in the 2022 mid-terms will face staunch opposition if they have an anti-crypto agenda. Even though it’s becoming clear that one party is more favorable to crypto, some Democrats are hoping to change that.
Source : bsc.news
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