US Senator Ted Cruz Hope Texas Becomes a “Crypto Oasis”

US Senator Ted Cruz wants to make the American state of Texas an oasis for bitcoin and cryptocurrencies. As discussed at the Texas Blockchain Summit 2022 in late November. The politician sees the crypto industry as a strategy for US energy supply and technology development.

Cruz sees that Bitcoin mining can be used to monetize the energy generated from oil and gas extraction. He also stressed that mining activities can be used as energy storage and alternative sources.

“The beauty of Bitcoin mining is when you have a large investment. Just like we do in Bitcoin Mining and Texas, when you have extreme weather events. Whether it’s the extreme heat that often occurs in Texas or the extreme cold. As sometimes happens here, Bitcoin mining can help. By warming people’s homes, to keep business going. which is very useful.”

The senator emphasized that Texas has an abundant and relatively low-cost energy mix. Including exposure to independent organizations This makes Texas an attractive state for developing the crypto industry in the United States. Cruise also revealed the reason why he describes himself as a big fan of Bitcoin:

“I like Bitcoin because governments can’t regulate it,” and admitted that he buys Bitcoin weekly, the only digital currency in his portfolio.

“I think Bitcoin means investment. it means chance it means prosperity It means financial independence. And I also think that the increase in bitcoin mining in Texas has been very beneficial to the resilience of electricity.”

Texas is one of the fastest growing crypto mining hubs in the United States.

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