Bitcoin is a reservoir of power

U.S. Senator Ted Cruz described Bitcoin as an energy security blanket for Texas’ grid infrastructure in a recent speech at the Texas Blockchain Council.

Cruz described Bitcoin (BTC) as a “reservoir of power,” suggesting it could serve as an energy safety net for the state’s grid infrastructure during extreme weather events or times of economic uncertainty.

“What Bitcoin offers is an opportunity to increase the resilience of our grid in real time,” Cruz said.

These comments come after Bitcoin mining in Texas caused noise pollution and health problems for residents, highlighting the need for better regulation.

Ted Cruz and crypto

According to Cointelegraph, the Texas Blockchain Council has endorsed Ted Cruz for re-election to the US Senate on August 12. They cited his support for Bitcoin and its potential benefits for Texas’ energy grid. Cruz, who has previously spoken at TBC events, has an eight-point lead over Democrat Colin Allred in a recent poll.

In his speech, Cruz emphasized that Texas, one of the leading states in the US for wind energy production, faces difficulties during severe weather conditions where renewable energy sources such as wind and solar cannot produce enough power.

Cruz argued that during such events, Bitcoin miners could be quickly shut down and the electricity they consume redirected to critical needs like heating homes and powering hospitals.

“Bitcoin is a store of strength, it is a security blanket for the state of Texas,” Cruz said.

Texas has been the center of crypto mining disputes between miners and the government. Recently, a Texas crypto mining firm, Lejilex, filed a lawsuit against the SEC, challenging its jurisdiction over exchange-traded crypto and challenging the classification of certain tokens as securities.