Texas Senator Ted Cruz Throws Weight Behind Bitcoin Mining Industry – Here’s What You Need to Know
Texas Senator Ted Cruz has recently thrown his weight behind the bitcoin mining industry, bringing the spotlight on the newest industry to take the world of digital currency by storm. Bitcoin mining is the process of using computers equipped with specific software to solve mathematical problems in exchange for a reward. This reward is typically made in Bitcoin, hence the term “mining”. With the Bitcoin industry quickly gaining steam, Senator Cruz has offered his support in the form of announcing his intention to work with powerful stakeholders from the industry in order to ensure that the industry is allowed to flourish.
According to Cruz, investing in the Bitcoin mining industry can provide people with an investment avenue that is less exposed to the “faith-based” investing strategies so often applied to traditional stocks and bonds. He also believes that the industry is capable of providing a secure, transparent and efficient method for conducting financial transactions, thus improving the financial health of his constituents.
In addition to providing the industry with his support, Senator Cruz is also looking to create legislation that will help ensure that it is able to operate legally and without any interference from the government. He believes that the Bitcoin industry will only contribute to America’s safety and stability while also providing individuals with the ability to invest in the promise of the digital currency.
At this time, no official legislation has been announced by Senator Cruz. However, with his support behind the industry, it wouldn’t be surprising if new legislation was introduced in the near future. If this happens, then it could signal a major shift in the way the government views digital currencies, allowing them to be treated similarly to the traditional stock and bond markets.