Senator Ted Cruz says ‘Left hates Bitcoin,’ puts Justin Trudeau, Elizabeth Warren on blast ๐จ This article is 3 years old...
Senator Ted Cruz says ‘Left hates Bitcoin,’ puts Justin Trudeau, Elizabeth Warren on blast
US Senator Ted Cruz slammed Justin Trudeau, Elizabeth Warren and China for opposing Bitcoin and praised the cryptocurrency for being decentralized and free from third party control.
2 min read
Updated: Sep. 13, 2022 at 4:51 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
During the Canadian “Freedom Convoy” protest, Ted Cruz pulled Bitcoin into the widely famous CPAC political gathering by highlighting how censorship-proof the cryptocurrency was.
โThe Left hates Bitcoin because they cant control itโ
The tweet below shows the speech made by the US senator at the Conservative Political Action Conference (CPAC) 2022 event in February earlier this year.
One of the reasons Iโm bullish on #Bitcoin is because itโs decentralized.
The Left hates Bitcoin because they canโt control it. #CPAC2022 pic.twitter.com/D4PYNacNBZ
— Ted Cruz (@tedcruz) February 25, 2022
Cruz slammed everyone from Justin Trudeau and Elizabeth Warren to the Chinese Communist Party for rejecting Bitcoin, saying they are against it to limit people’s financial freedom and civil freedoms.
โIt’s one of the reasons why I am so bullish on crypto on Bitcoin because it is decentralized and not controllable.โ Ted Cruz said during his speech.
The senator also described a situation where the Ontario Superior Court demanded that the Nunchuk Bitcoin wallet freeze and disclose information on digital assets sent to anti-vaccine mandate protesters.
โLet me give a fantastic example. So Justin Trudeau said, โI don’t like me some truckers. So we’re going to seize your assets. So then the court went to try to seize the crypto that was being given to the truckers.โ he said.
He then read the now-famous email response from the Nunchuk wallet firm to the Canadian government, in which they said that it is impossible to freeze accounts since โthat is how decentralization works.โ
The Ontario Superior Court of Justice asked self-custody wallet provider @nunchuk_io to disclose user information and freeze userโs bitcoin.
This was the teamโs response. pic.twitter.com/uyW9OWs1LS
— Pomp ๐ช (@APompliano) February 19, 2022
Ted Cruz continued to quote the email response:
โWe do not collect any user identification information beyond email addresses. We also do not hold any keys. Therefore, we cannot freeze our users accounts.โ
Ted Cruz then highlighted one of the most critical parts of the letter:
โWe cannot prevent them from being moved. We do not have the knowledge of, quote, the existence, nature, value and location of our users assets. This is by design.โ
The email response closed off with the following lines:
โPlease look up how self custody and private keys work.โ
“When the Canadian dollar loses its value, we will be here to serve you as well.”
Cruz highlights the importance of decentralization and blockchain technology. Since no entity can control the blockchain or user wallets, funds are fully controlled by the users.
Direct control prevents intervention from any corporation, government, or third party, allowing for the free exchange of funds for users worldwide.
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Justin Trudeau is a Canadian politician who is the 23rd and current prime minister of Canada since 2015.
Elizabeth Warren is an American politician and former academic known for being fiercely anti-Bitcoin and anti-crypto.
