Senator Ted Cruz took advantage of the crypto dip last month as he purchased between $15k and $50k worth of Bitcoin (BTC) on Jan. 25th, according to a report from Cointelegraph.
When the purchase was made, Bitcoin was trading between $36,000 and $37,000 as investors began to worry about a “crypto winter.” It does seem to be bouncing back, however, and is currently trading for nearly $42,000. The acquisition was made using the River Financial brokerage, which was founded in 2019 and is licensed in various states.
Cruz’s acquisition comes as Texas is attempting to become a focal point of bitcoin mining. He has been vocal regarding the acceptance “of cryptocurrency at restaurants, vending machines, and gift shops in the Capitol complex,” according to a resolution he proposed.
As various financial institutions have grown more accepting of digital currencies all over the world, fintech company Visa said its customers used $2.5 billion in payments with crypto wallets in its fiscal first quarter of the year.
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