Since the time of the trade, Bitcoin rose about 65.37% to the press time price of $64,483, meaning that Senator Cruz made – on the higher end of the estimate – $39,080 in just over two years of holding the coin.
Politicians increasingly keen on Bitcoin
Senator Cruz is far from the only U.S. politician who is either bullish or directly invested in Bitcoin.
Perhaps the most high-profile among them is Robert Kennedy Jr, an independent presidential candidate in the November 2024 elections and the nephew of former President Kennedy.
He has so far, for example, vowed to end the ‘White House war on Bitcoin’ and accused Congress of being paid to suppress the cryptocurrency.
Still, Kennedy is not the only one – despite being among the most vocal – and Congressman Barry Moore seemingly decided to take advantage of the expected effects of the Bitcoin halving, having invested $15,000 in the coin in March.
$BTC price chart
Though Cruz’s long-term Bitcoin trade has certainly proven profitable, more recent purchases made by other politicians and investors have yet to prove as such. Indeed, though $BTC’s long-term performance – which saw it rise 118.03% in the last 52 weeks and 52.85% year-to-date (YTD) – has been strong, the world’s premier cryptocurrency has been struggling of late.
In the last 30 days, Bitcoin experienced substantial volatility and declined 7.93% while its weekly performance is similar, though with a 0.56% drop.
Bitcoin price today, at press time, stands at $64,483 after a 1.03% rise on the daily chart.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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