Ted Cruz says "I'm a Bitcoin investor personally. I have a standing buy order. Every morning I have a buy of Bitcoin that comes in... I own a little more than 2 BTC."
Per his STOCK Act disclosures he bought btwn 0.4 and 1.4 BTC in Jan 2022. Hasn't disclosed any purchases since.
He bought the remaining 0.6 – 1.6 BTC ($17,400 – $46,400) within the last 30 days
He's buying <$1,000 in BTC each week. As I understand it the STOCK Act only requires a Periodic Transaction Report of purchases >$1,000 (regardless of how often they're made, which seems like a crazy loophole!) But I could be wrong on this, please correct if so
@molly0xfff Maybe he buys them at the airport, after he is done shaking hands with those big burly policemen with tears in their eyes thanking him for all he does.
This clip is from the Bitcoin Policy Summit, which is a "one-day, invite-only policy conference exploring Bitcoin as a strategic opportunity for the United States" that boasted Cruz, Sen. Cynthia Lummis, Rep. Tom Emmer, and former Rep. Tim Ryan as speakers.
@molly0xfff I’m so sick of hearing bitcoin bros lie about how it helps the energy grid. It’s nonsense. Them buying cheap power at night and then getting paid to shut off their rigs during demand events is not really helping the grid, especially as more EV’s charging at night come online.
Also, they wouldn’t make any money during a demand event anyway, so they are doing nothing but hiking rates for everyone else. Utter bullshit.
@molly0xfff in the absence of any proportionately punitive measures, a fine just says anything is permitted for a price, and as long as the government gets a cut.
As others have pointed out, all he has to do is purchase his $200 corruption license from the government, and he's good to go. No sense moralizing about an elected official, is there! It would be as useless as desiccating the Sahara.
@molly0xfff
His wife Heidi Cruz is a Managing Director at Goldman Sachs. She surely knows all the squirrely, shady ways to avoid taxes as well as reporting & disclosure obligations.
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