Senator Ted Cruz bought up to $50,000 in bitcoin, according to a new financial disclosure
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Sen. Ted Cruz made bought bitcoin last month, a new financial disclosure shows.
He bought between $15,001 to $50,000 worth of the cryptocurrency on January 25.
The Texas Republican has become an increasingly vocal backer of bitcoin in recent months.
Senator Ted Cruz bought up to $50,000 worth of bitcoin last month, according to a new financial disclosure filed with the US Senate.
The disclosure, first reported by Cointelegraph, shows that Cruz bought between $15,001 to $50,000 of the cryptocurrency on January 25 and used financial brokerage River to make the payment.
According to Coin Desk, bitcoin was trading at $36,000 to $37,000 at the time of Cruz' purchase, far below a record high of close of $69,000 reached in November.
Earlier in January, analysts at UBS warned that bitcoin's slump suggested a "crypto winter" of collapsing prices could be coming.
The digital coin is currently priced at $41,600.
The Texas Republican has positioned himself as a vocal supporter of bitcoin in recent months.
Last August, he and Tesla CEO Elon Musk spoke out against a crypto tax in the Senate's infrastructure bill which sought to raise $28 billion in new revenue over a decade.
The money would be used to fund President Joe Biden's infrastructure package, the White House had previously said.
Last August, Cruz tweeted: "The infrastructure deal contains DANGEROUS provisions that would devastate crypto and blockchain innovation."
In November, he proposed crypto as payment for merchants doing business on Capitol Hill.
In a resolution dated November 1, he called on administrative managers to work on crypto-friendly payment contracts.
Read the original article on Business Insider
