The notable US Senator for the state of Texas, Ted Cruzhas significantly increased his Bitcoin holdings. And as crypto has increasingly become a political topic of conversation, Cruz has been getting his hands on even more of the asset. But how much BTC does he actually have?
Over the past year, Cruz has been an outspoken advocate for the leading cryptocurrency. He's certainly not alone. Former President Donald Trump has made the token a key plank of his re-election campaign. And the problem has only grown as the November presidential election approaches.
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How Much BTC Will Ted Cruz Own in 2024?
This is the year of the Bitcoin. With the launch of BTC in January, which saw the country’s first crypto-based ETF, all eyes were on the asset. Just three months after the product’s launch, the token reached an all-time high price of $73,000. That rise in prevalence has led to increased attention in the political sphere.
With several representatives joining the discussions about the token, many are investing. Among them is US Senator Ted Cruz, who recently increased his Bitcoin holdings. But how much BTC does the Texas representative currently have?
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In an August 13 financial disclosure filing, Crus revealed an extensive Bitcoin investment. Specifically, he increased his BTC holdings to $100,000 worth of crypto, according to Quiver QuantitativeThat is a remarkable increase compared to last year.
Cruz began acquiring the leading cryptocurrency in January 2022, when the senator bought between $15,000 and $50,000 worth of Bitcoin. At the time, the token was valued at $39,000 and was expected to rise dramatically in the coming year.
Throughout 2024, Cruz has Bitcoin as a defense against a CBDC. Indeed, he has consistently opposed a central bank-issued cryptocurrency. Conversely, he has advocated for Bitcoin’s place, recently calling it a “reservoir of power.” Furthermore, he has touted its potential as a powerful currency option for citizens.