US Senator Ted Cruz says he is aware of what the only biggest risk is to Bitcoin (BTC) and the general crypto trade.
In a brand new interview on the Verdict Podcast, Cruz says that the largest hazard the crypto markets face is lawmakers in Washington who don’t know what they’re doing.
“I believe the only biggest risk to Bitcoin and crypto is Washington politicians screwing it up, and it’s a very actual risk.”
The one biggest risk to #Bitcoin and crypto is Washington politicians screwing it up.
— Ted Cruz (@tedcruz) April 13, 2022
Nonetheless, Cruz notes that one mistake his colleagues are making is definitely rushing up the speed of adoption of the highest crypto asset by market cap, however hurting People on the similar time.
“The huge spending in Washington is what’s fueling the inflation that’s hurting the American folks so profoundly proper now and it is among the issues that’s fueling the transfer to Bitcoin…
One of many causes that you’re seeing folks transfer to Bitcoin is a hedge [against] inflation. That Bitcoin, by design, can’t go over 21 million BTC. It’s a finite sum…
Forex offers the relative values of a superb or service vis a vis one other. When you may have politicians devaluing everybody’s items and providers, they search for different methods to retailer worth. It’s why folks in occasions of inflation are drawn to gold or silver or actual property or commodities, different exhausting belongings as hedges to inflation.
So I’m a giant proponent of Bitcoin.”
Bitcoin is exchanging arms at $40,455 at time of writing, a 6.5% drop from its seven-day excessive of $43,337.
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