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.

Why does Elizabeth Warren hate Bitcoin?

For the same reason that Xi and China hates Bitcoin: Neither one of them can control it. #Verdict https://t.co/2hO1B8SF2B pic.twitter.com/9otP8WFPnW

— Ted Cruz (@tedcruz) February 13, 2022

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