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Bitcoin mining PAC backs Ted Cruz as Texas early voting begins

Bitcoin mining PAC backs Ted Cruz as Texas early voting begins

Grafa2024/10/22 01:30
By: Mahathir Bayena
BTC+0.11%

A cryptocurrency-backed political action committee (PAC) has launched an ad campaign supporting Texas Senator Ted Cruz as early voting begins for the upcoming U.S. election. 

The Bitcoin Voter PAC, backed by executives from mining companies such as Marathon Digital Holdings, CleanSpark, and Riot Platforms, released the ads highlighting Cruz’s understanding of Bitcoin (CRYPTO:BTC) without mentioning his opponent Colin Allred’s policies. 

In an Oct. 21 post, the Bitcoin Voter PAC stated that Cruz “understood embracing Bitcoin,” positioning him as a supporter of cryptocurrency in Texas. 

The PAC was formed in June with the goal of identifying potential voters and influencing key elections, but Federal Election Commission records show no major contributions or expenditures for the 2024 election. 

Early voting began on Oct. 21, with Texans deciding between Cruz, who has held his Senate seat since 2013, and Allred, a Democratic representative of Texas’ 32nd Congressional District since 2019. 

While polls suggest a tight race, Cruz holds a slight lead in a state that hasn’t had a Democratic senator since 1993. 

The Texas Blockchain Council (TBC), a crypto and blockchain advocacy group, endorsed Cruz in August, with TBC President Lee Bratcher saying, “He is knowledgeable about Bitcoin as a tool for ensuring freedom and mining as a tool for grid stability.” 

Bratcher also added that Cruz is “unapologetically” pushing pro-crypto policies, which influenced the group’s endorsement. 

Bratcher noted that Allred is “pretty pro-crypto,” but said that the TBC supports Cruz for his stronger stance on digital asset policies. 

Texas is home to several major crypto mining firms and has been central to several court battles involving crypto firms and federal regulators. 

At the time of writing, the Bitcoin price was $67,130.16.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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