U.S. senator intends to turn Texas into an oasis for cryptocurrencies
Senator from the U.S. state of Texas, Ted Cruz, is known for his loyalty to bitcoin and plans to use the state's opportunities to develop the crypto industry.
Cruz spoke during the Texas Blockchain Summit about how the field of digital currencies could be of strategic importance to the country:
Mining can help when there is a surplus of energy. However, in the event of extreme heat or cold, which increases the load on the grid, there is an option to stop the process instantly. As a result, electricity will be used for households and businesses. It is a useful reserve of capacity.
In addition, the senator explained his commitment to BTC:
I like Bitcoin because the government is unable to take control of it. I buy the coin regularly, and it is the only cryptocurrency in my portfolio. BTC is about prosperity, opportunity, and financial independence.
Texas is currently one of the fastest-growing cryptocurrency mining hubs in the U.S. At the end of the summer, the local regulator sided with the development of the crypto-sphere: Bitcoin mining companies do not have power grid requirements similar to those imposed by the industry, so the state is ready to accept miners.