Senator Ted Cruz took advantage of the crypto dip last month as he purchased between $15k and $50k worth of Bitcoin (BTC) on Jan. 25th, according to a report from Cointelegraph.

When the purchase was made, Bitcoin was trading between $36,000 and $37,000 as investors began to worry about a "crypto winter." It does seem to be bouncing back, however, and is currently trading for nearly $42,000. The acquisition was made using the River Financial brokerage, which was founded in 2019 and is licensed in various states.

Senator Ted Cruz, seen speaking to reporters in the US Capitol in October 2021, has spearheaded a bill to impose sanctions on the operators of the Nord Stream 2 pipeline from Russia to Germany
Senator Ted Cruz, seen speaking to reporters in the US Capitol in October 2021, has spearheaded a bill to impose sanctions on the operators of the Nord Stream 2 pipeline from Russia to Germany AFP / Olivier DOULIERY

Cruz's acquisition comes as Texas is attempting to become a focal point of bitcoin mining. He has been vocal regarding the acceptance "of cryptocurrency at restaurants, vending machines, and gift shops in the Capitol complex," according to a resolution he proposed.

As various financial institutions have grown more accepting of digital currencies all over the world, fintech company Visa said its customers used $2.5 billion in payments with crypto wallets in its fiscal first quarter of the year.

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