Rafael “Ted” Cruz, the junior Republican senator from Texas, is indifferent to his words.
Cruz bought $15,000 to $50,000 worth of bitcoin (BTC) on January 25, according to a financial statement on Friday, February 4, using a brokerage called River.
At the time, bitcoin was trading between $36,000 and $37,000, and in the following days, it rose to its current price of around $41,600. Assuming he didn’t sell his bitcoins or pay any short-term capital gains taxes, his current profit from the trade is between $2,000 and $6850.
Source: US Senate financial statements.
Following in the footsteps of 2nd Senator Cynthia Loomis of Wyoming, Cruz spent most of the second half of cryptocurrency on the blockchain and cryptocurrency industry as his state benefited from an influx of bitcoin mining companies and interest in the topic grew. Widespread.
He called for cryptocurrency payments to be accepted at gift shops and vending machines in the US capital’s complex and opposed a provision in the recent infrastructure bill that critics say would expand the definition of “intermediary” to include miners and possibly even auditors and cryptographers.
During the current cold weather gripping Texas, some crypto miners have slowed or stopped working to help protect the state’s power grid infrastructure, which failed during the long freeze in 2021. Cruz himself is known to have been absent for some time, since that he was visiting. Cancun mexican resort.
River Financial is licensed in many US states, but the website does not list a Texas Money Transmitter license. According to the Texas Department of Banking’s Virtual Currency Guide, “No Texas currency exchange license is required to carry out any transaction that exchanges virtual currency for sovereign currencies.”
Several members of Congress, including Democrats Jake Ochenlos of Massachusetts and Mary Newman of Illinois, as well as Republicans Jeff Van Drew of New Jersey and Barry Moore of Alabama, have disclosed assets in cryptocurrency or related stocks.