US Lawmakers Have Been Loading Up On Bitcoin, Ethereum, Cardano — Report ⋆ ZyCrypto

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The relationship between cryptocurrency and the people of Capitol Hill has not always been smooth. However, it seems that the rift may soon subside as regulatory discussions accelerate with some politicians developing an interest in cryptocurrency assets.

According to a recent report by Unusual Whales, a platform that tracks unusual marketing activities, more and more lawmakers seem to be already holding positions in the crypto industry. While some appear to have invested directly in crypto assets, the resource tracks some MPs who have invested directly or indirectly in crypto.

Despite the uncertainty created by Biden’s infrastructure bill, which seeks to cover up some cryptocurrencies and corrupt relations between the crypto and the Securities and Exchange Commission (SEC), Congress traded $ 290,000,000 in stock, $ 140,000,000 in options and $ 124,000,000. In other security (other shares). Foundation and Crypto).

According to the report, Washington traded a total of 25 live currencies across 12 different cryptocurrencies. Surprisingly, Bitcoin, the largest wallet in the cryptocurrency family, is the most traded asset, with documents showing Senator Cynthia Lummis buying about $ 100,000 of BTC between 2013 and 2021.

Senator Pat Toomey, a vocal supporter and supporter of cryptocurrencies, just bought $ 30,000 in cryptocurrencies last year. He also added equal shares of GBTC and ETHE to his portfolio during that time.

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Other members of the lower house also bought some. Alabama-Rep Barry Moore stocks Cardano worth $ 45,000 and up to $ 15,000 in Ether. The politician is also involved in the DOGE chaos, where he is believed to still be carrying a hefty amount of meme coin.

Rep. Mark Green, who was also the first lawmaker to unveil his crypto investment, bought BAT and CELO in March 2021 before adding XLM, LINK, DOGE, ETC and EOS in April. Although Green did not speak publicly about the cryptocurrency, his financial disclosure betrayed his position.

Despite staying out of the crypto system, Democrat Marie Newman bought at least $ 50,000 in Grayscale Bitcoin Trust shares along with Senator Toomey. With the politician’s original estimate of about 4,000% YTD increase, it is expected that he will support Senator Lummis’s pro-cryptocurrency bill given to him in the Blockchain Caucus.

That said, while only six lawmakers have publicly disclosed their holdings of cryptocurrencies, it is believed that more could hold crypto-related assets such as shares in Coinbase, Nvidia and PayPal, though. By proxy means either. With regulation being a hot topic, who knows if Congress will be the next SHIB Daycare?

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