Texas Senator Ted Cruz

Rafael Edward Cruz, the junior Republican senator from Texas, purchased bitcoin during the recent decline, suggesting he disclosed new financial information to the U.S. Senate. The financial disclosure, filed Friday, Feb. 4, shows that Cruz purchased between $15,001 and $50,000 worth of bitcoin on Jan. 25.

The purchase was made through River Brokers. In fact, as the price of BTC hovered below $37,000 at the time, Senator bought into the decline. However, on February 5, the price of BTC crossed the $40,000 mark for the first time since January 20.

ted-cruz.jpg.webp Image from Reddit

Assuming Cruz still holds his most recent purchase, his current trading gains would be worth approximately $2,000 to $6,850.

Cruz, Cryptocurrency Advocate

In recent months, the U.S. senator has become a cryptocurrency advocate as he introduced a resolution to accept cryptocurrency payments from Capitol Hill merchants. Cruz also introduced an amendment that removed language from the bill aimed at tightening reporting requirements for digital asset brokers.

However, none of the amendments were passed before the infrastructure bill was signed into law, and the task of clarifying the definition of "broker" now falls to the Treasury Department.

Somehow, Texas has become a hub for bitcoin mining under Cruz as miners seek to benefit from China's cryptocurrency mining crackdown.

Bitcoin up 10%

The king of cryptocurrencies, the price of Bitcoin rose about 10% to cross the $40,000 mark for the first time since January 20. As a result, BTC's market dominance rose slightly to 41.65%. The second largest cryptocurrency, ethereum, also soared by more than 10%.

Global cryptocurrency market capitalization soared to the $1.87 trillion mark in the last 24 hours, while trading volume climbed to $90.36 billion.

The post Texas Senator Ted Cruz Buys Bitcoin Down, Trading Show appeared first on CoinGape.