Ted Cruz Says Elizabeth Warren Hates Bitcoin For The Same Reason As China Does

Senator Ted Cruz (R-TX) has taken a jibe at Sen. Elizabeth Warren (D-MA) for her alleged hatred of Bitcoin BTC/USD.

What Happened: Cruz took to Twitter to explain the reasoning for Warren hating Bitcoin, saying authoritarians hate the apex cryptocurrency because they can't control it.

See Also: How To Buy Bitcoin (BTC)

Why It Matters: Warren has previously spoken out against the threats posed by cryptocurrencies to the U.S. economy and the adverse impact of mining cryptocurrencies.

A forthcoming bill co-sponsored by Warren and Sen. Steve Daines (R-MT) that seeks to bar members of Congress from trading stocks could also cover cryptocurrencies, the New York Post reported Friday.

Warren had also engaged in a Twitter spat with Tesla Inc. TSLA CEO Elon Musk in December after she accused him of “freeloading” and not paying full taxes. Musk is a big proponent of Dogecoin DOGE/USD.

Cruz, on the other hand, is a proponent of cryptocurrencies and the blockchain industry. The Senator’s home state Texas has emerged as a bitcoin mining hub.

Cruz — who has opposed the provisions in a bipartisan Senate bill that called for new tax rules for crypto-trading firms and brokers — bought the-late January dip in Bitcoin.

Price Action: Bitcoin is down 0.9% during the past 24 hours, trading at $41,908.71 at press time.

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Photo: Courtesy of Gage Skidmore via Wikimedia