Count Sen. Ted Cruz among those who are betting that bitcoin and other cryptocurrencies are set for a rebound in the coming months.
Cruz (R‑Texas) bought between $15,001 and $50,000 of bitcoin in a transaction dated Jan. 25, according to a Senate financial disclosure. The Texas senator made the purchase on River Financial, a leading digital marketplace for bitcoin.
The timing of Cruz’s purchase indicates he “bought the dip” on bitcoin. A single token of the leading cryptocurrency was worth approximately $36,980 on Jan. 25, according to Coin Base. Bitcoin’s price was down a considerable amount from its peak in November, when one token was worth $69,000.
Assuming Cruz still owns the bitcoin, he already stands to benefit from the purchase. Bitcoin’s price hovered near $43,000 as of Monday morning.
Cointelegraph was first to report on Cruz’s disclosure.
Cruz is one of several US lawmakers who are bullish on the long-term prospects of cryptocurrencies and blockchain technology.
https://nypost.com/2022/02/07/ted-cruz-bought-the-bitcoin-dip-in-january-filing-shows/