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Senator Ted Cruz Now Accepts Campaign Donations in Bitcoin

today 11/07/2023
Senator Ted Cruz from Texas has announced that he will now accept Bitcoin as part of his campaign fundraising efforts. He is using BitPay, a crypto payment processor, to facilitate Bitcoin, Ethereum, Bitcoin Cash, and Litecoin payments. This move follows a trend among political figures embracing cryptocurrencies, with mayors from Miami and New York City electing to receive paychecks in Bitcoin. If Cruz's acceptance of Bitcoin is successful, it may encourage other politicians to do the same, potentially leading to wider adoption of cryptocurrencies in politics. Despite the growing interest in cryptocurrencies, many politicians remain skeptical, particularly regarding the implementation of a Central Bank Digital Currency (CBDC). Cruz has expressed concerns about the surveillance capabilities and potential infringement on financial privacy associated with CBDCs. This sentiment aligns with the broader resistance to CBDCs among Americans, as indicated by a survey showing 74% of respondents opposing CBDCs as a replacement for traditional currency. In May, Florida Governor Ron DeSantis signed a bill banning CBDCs in the state, citing concerns about government control and surveillance.
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