Can Bitcoin Bridge the Political Divide? With Ted Cruz

 
 

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“I am an enthusiastic fan of Bitcoin and I want to say to everyone here thank you for what you’re doing to drive the Texas economy, to drive the American economy, to modernise energy, to strengthen resiliency of the grid, to enhance economic freedom.”
— Ted Cruz

SHOW DESCRIPTION

Ted Cruz is a serving US Senator for Texas. In this interview, we discuss the importance of Bitcoin for Texas and the United States, communicating the threat of CBDCs, the political and regulatory challenges, and Bitcoin’s symbiotic relationship with energy.

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Ted Cruz is one of the most consequential politicians of his generation. He is a strong advocate for liberty and the tools that support freedom within society. It is perhaps no surprise that he is therefore a fan of Bitcoin. But equally, it shows strength and courage as many of those in positions of power still cast aspersions about Bitcoin and its associated community.

Yet, as with all firebrand politicians, Ted Cruz divides opinions. He is uncompromising in his approach to certain issues. He is also part of the modern political game whereby the opposition is deemed to be the enemy. There is an obvious political incentive to adopt such characteristics in terms of being able to clearly delineate your position where there is significant competition for attention.

There are certainly strong critics of Bitcoin within the Democratic party. However, Bitcoin can not be allowed to become a political football. It is still a nascent technology, and its development in the US could still be derailed by damaging regulation. It is imperative therefore that those who back Bitcoin on both sides of the aisle not only work together, but they are seen to be working together (e.g. Lummis and Gillibrand).

Ted Cruz acknowledges this. He knows that his voice has a limited reach within more progressive circles. He needs those who would otherwise be antithetical to his politics to join him, and vice versa, to ensure this technology and its community is not driven out of the US. The basis of the reasoning is sound: it is freedom money that has a symbiotic relationship with energy. Let’s work to ensure politicians can see the issues anew by discarding the broken lens of politics.

TIMESTAMPS

00:05:39: Introductions
00:06:36: Washington's partisan divide on Bitcoin
00:09:24: Bridging the political divide, and future regulation
00:17:40: CBDCs and the threat to democracy
00:25:43: The importance of breaking the political polarisation
00:34:44: Bitcoin's symbiotic relationship with energy
00:38:21: Final comments

 

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SHOW NOTES

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Mentioned in the interview:

Other Relevant WBD Podcasts:

PodcastPeter McCormack