Ted Cruz:Texas’ Abundant Energy Is Opportunity for Bitcoin
Texas has always been looked at as some wondrous frontier by many of us across the pond so it pleases me to see a Texas politician embracing the future with Bitcoin.
“Fifty percent of the natural gas in this country that is flared, is being flared in the Permian right now in West Texas. I think that is an enormous opportunity for Bitcoin, because that’s energy that is just being wasted,” Cruz told Jimmy Song at the Texas Blockchain Summit last week.
The Permian Basin is an oil and gas-rich region in the southwestern part of the United States. Portions of the Basin are in both the state of Texas and New Mexico.
“A lot of the discussion around Bitcoin views Bitcoin as a consumer of energy,” said Cruz. “The perspective I’m suggesting is very much the reverse, which is as a way to strengthen our energy infrastructure.”