Ted Cruz Loves Bitcoin Because of Its Decentralized Nature
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“One of the reasons why I’m so bullish on crypto, on bitcoin, is because it is decentralized and not controllable.”
He continued: “Let me give a fantastic example,” adding, “So Justin Trudeau said I don’t like me some truckers, so we are going to freeze your assets. So the court went to try to freeze the crypto that was being given to the truckers.”
The US Senator later read out a letter from Bitcoin wallet company Nunchuck to the Ontario Superior Court Justice. Nunchuck received an order from the Ontario court on February 18 to freeze and disclose details over the assets involved in the Freedom Convoy movement.
In its letter to the court, the Nunchuck team detailed that it is a “self custodial, collaborative-multi-sig Bitcoin wallet.” Explaining that it is “a software provider, not a custodial financial intermediary,” Nunchuck told the court:
“We cannot ‘freeze’ our users’ assets. We cannot prevent them from being moved. We do not have knowledge of ‘the existence, nature, value, and location’ of our users’ assets. This is by design.”
The letter ended with the company also urging the court to “Please look up how self custody and private keys work.”
Key Bitcoin Levels to Watch — February 27
Following the strong recovery from the recent Russia-Ukraine invasion-induced crash, BTC has fallen into a sideways pattern around the $39K mark. That said, BTC appears to be gathering a mild bullish momentum on Sunday, as it breaks the hourly 50 SMA around $39K.
The benchmark cryptocurrency is set to retake the $40K top as more buyers come on board. However, this coming week is filled with a slew of macroeconomic data, including the US Non-Farm Payroll, which could have some effect on the near-term price section of BTC. Also, headlines from the ongoing war should heavily influence price direction over the coming days and possibly weeks.
Meanwhile, my resistance levels are at $40,000, $41,000, and $42,000, and my key support levels are at $38,500, $37,500, and $37,000.
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