Rafael ‘Ted’ Cruz, Junior Republican senator from Texas, made a Bitcoin purchase during the recent dip

disclosure dated February 4 shows Sen. Ted Cruz (R-TX) made a Bitcoin purchase valued between $15,001 and $50,000. He is putting his money where his mouth is, purchased on January 25 using River. On the day of the purchase, the Bitcoin price was hovering just under $37,000.

Ted Cruz made a January 25 Bitcoin purchase

Reportedly, Cruz purchased $15k to $50k worth of Bitcoin on January 25th, using brokerage firm 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 hasn’t sold his BTC and is subject to any short-term capital gains taxes, his current profit on the trade is in the $2,000 – $6,850 zone.

rafael-ted-cruz-made-a-bitcoin-purchase-during-the-recent-dip

Source: United States Senate Financial Disclosures

Following the example of fellow Senator Cynthia Lummis of Wyoming, Cruz spent much of the latter half of the crypto bull run aligning himself with the blockchain and cryptocurrency industry, as his state benefited from an influx of Bitcoin mining companies and interest in the subject became more widespread.

He has favored accepting cryptocurrency payments at gift shops and vending machines in the U.S. Capitol complex and opposed a provision in the recent infrastructure bill that critics say expands the definition of ‘broker’ to miners and even potentially validators and coders.

The Cruz’s state of Texas has also emerged as a bitcoin mining hub as miners seek to take advantage of the state’s deregulated energy market in the wake of China’s crackdown on crypto mining.

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