While former U.S. President Donald Trump still thinks Bitcoin is “a scam,” Senator Ted Cruz has stepped forward to voice his support for the flagship cryptocurrency.
During a recent appearance on Fox News’s “Hannity,” Cruz said that Bitcoin has “enormous potential.” According to the former presidential candidate, a looing inflation crisis is “part of the reason” why people are embracing Bitcoin. He explained:
I think [Bitcoin] has a lot of potential. I think we are seeing enormous growth in it… We are seeing inflation. We are seeing lumber going up, homes going up, oil going up, gasoline going up, energy going up, commodities going up, and I think people are going to Bitcoin as a hedge against that.
Cruz was quick to leave a word of warning to viewers, advising them to be “careful.”
Bitcoin is freedom
Before Cruz’s appearance on the show, MicroStrategy CEO Michael Saylor was interviewed by Sean Hannity. Saylor, an avid Bitcoin evangelist said that Bitcoin represents “property and freedom” to eight billion people across the world.
Bitcoin is a technical solution to give 8 billion people property rights. I can own $100 in my hand as easily as I can own $1 billion.
His business intelligence firm recently raised $500 million to buy more Bitcoin.