Fox News host Sean Hannity and the much maligned Senator Ted Cruz got together to explain the mysterious and shadowy world of cryptocurrency to the at-home audience, and oh boy. On one hand, sure, the Fox News audience has probably caught wind of all those Reddit-lurking younguns and their stock-market exploits, and they’d like to know what all of this Bitcoin and Dogecoin fuss is about. So at a certain point, the Fox News night-time guys needed to tackle the subject, and the results, so far, are entertaining.
Bless Hannity’s heart, he gave it a go, and he introduced his crypto talk by asking, “What is Bitcoin, what is blockchain, what is Doggy Coin?” It’s not a promising start, and it’s kind-of ridiculous, but he’s doing it anyway.
Although it would have been something if Hannity could have nabbed Elon Musk (he, as Anonymous put it last week, could possibly shed light on the market-manipulation, through crypto memes, in which he apparently partakes), Hannity pulled up the next dubious-best thing: Ted Cruz. And no, Cruz doesn’t understand crypto any more than Hannity does, but let’s not worry about details. Instead, let’s enjoy how Cruz attempted to explain why people are getting into crypto.
Long story short, according to Cruz (who also has no idea what crypto is but sees a lot of “potential” there), people are wanting to find alternatives to traditional money because of Biden putting the U.S. “on the verge of an inflation crisis” with federal spending: “We’re seeing lumber going up, we’re seeing homes going up, oil going up, gasoline going up.” Cruz ignores the fact that the rising prices of lumber, homes, and oil/gas are down to supply-and-demand issues, and he doesn’t seem to realize that Bitcoin has been popping for years, but Reddit and Elon Musk are pushing crypto into headlines. Yet, as Cruz admits about crypto, “To be honest, I don’t fully understand it.”
Here's Sean Hannity and Ted Cruz, both of whom admit on air they don't understand cryptocurrency, bloviating about Bitcoin anyway pic.twitter.com/7G7Drlj8zI
— Aaron Rupar (@atrupar) June 10, 2021
The same goes for Hannity. He imagines that although he’s debated the issue of crypto for “probably hundreds of hours” with friends, “I honestly still do not understand a lot about it.” Yet Hannity’s invested in crypto, as he admits below, and yes, this is real life.