U.S. Senator Ted Cruz said he is “very bullish on Bitcoin” and believes “the insights that led to Bitcoin’s birth are still remarkable.”
Speaking at an event organized by the Bitcoin Policy Institute, Cruz insisted that Bitcoin is “the alpha of crypto” because it was the first to emerge and “the most dominant.”
Meanwhile, Cruz explained why he and many others are drawn to Bitcoin. “Part of the appeal of bitcoin is that it can be a hedge against inflation, especially when there are irresponsible politicians in Washington spending like drunk sailors,” he said.
Cruz added that the trillions of dollars printed over the past two years have led to what he called “tremendous inflation.” According to him, since bitcoin is less “susceptible to government control,” it can serve as an “important check” against wasteful government spending.