In a recent podcast appearance, Texas Senator Ted Cruz argued that the government needs to allow the Bitcoin and crypto industries to develop unimpeded and he made some judgments about why people and institutions oppose the technology.

“In order for Bitcoin and crypto to continue to thrive, the government needs to leave it alone,” said Cruz.

States, like Texas, continue to compete for greater investment in the industry while grappling with the emerging technology and what, if any, regulations and limits to put in place. Texas Lt. Governor Dan Patrick said in a Senate committee hearing that he was concerned about Bitcoin miners in Texas due to their projected energy usage. 

Patrick said on X that “crypto miners and data centers will be responsible for over 50% of the added growth” to the energy grid and that he is “more interested in building the grid to service customers in their homes, apartments, and normal businesses.” 

While states like Hawaii, New York, Massachusetts, California, and Oregon have been rated some of the worst states for the industry, Texas has been one of the leading states in the country on crypto regulations and the Bitcoin and blockchain industry, according to some reports. 

Senator Cruz is among many Republican leaders, including Texas Governor Greg Abbott and former President Donald Trump who have been outspoken in their support for the Bitcoin industry. 

President Trump told the 2024 Bitcoin Conference that he wanted the U.S. to be a global leader in Bitcoin. 

Cruz agrees. “We need leaders who will stand up and defend your freedom, defend your financial freedom,” said Cruz. 

He speculated that the people he sees opposing Bitcoin and crypto, do so because they “can’t control it.” He points to the Chinese government banning Bitcoin because he believes “they want to have total control over their citizens’ financial affairs.”