Ted Cruz: China Banned Bitcoin
on Wednesday, March 23, 2022Ted Cruz Money Quote saying bitcoin has been banned in China because they want to control it and can’t. Ted Cruz said:
“China recently banned bitcoin, because they can’t control it, which is the exact same reason Elizabeth Warren hates bitcoin. The Chinese communists and Elizabeth Warren, they both want to control you” — Ted Cruz
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Ted Cruz stated that China banned Bitcoin because they cannot control it. Cruz believes that both the Chinese government and Elizabeth Warren dislike Bitcoin because it cannot be controlled by governments or centralized authorities. Some key points:
- China banned Bitcoin and cryptocurrency trading in 2021, citing concerns over speculative trading.
- Cryptocurrencies operate on decentralized networks that are not regulated by any central authority. This lack of control concerns many governments.
- Ted Cruz argues that the main reason for China’s ban was their inability to influence or regulate the Bitcoin network and its transactions.
- Others have also suggested that China wanted to push its own centralized digital currency as an alternative to decentralized cryptocurrencies like Bitcoin.