January 23, 2022

Five members of the American Congress invested in the crypto market

Some American politicians are investing in bitcoin, shares of the first public crypto exchange Coinbase and investment funds Grayscale Investments.

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Four congressmen and one US senatorinvested in the digital asset market by buying bitcoin or stocks of companies related to the cryptocurrency sector, writes Business Insider. The publication analyzed data on the personal finances of American lawmakers for 2020.

The largest amount invested in the crypto market by a memberHouse of Representatives Jeff Van Drew, who indicated that he invested $ 250,000 in one of the investment funds managed by Grayscale Investments. The company currently manages 16 cryptocurrency funds.

Republican Senator Cynthia of WyomingLammis in August this year reported on the purchase of bitcoin in the amount of $ 50 thousand to $ 100 thousand. In June, Lammis announced the purchase of bitcoin "at the bottom" when its price dropped to $ 28 thousand for the first time since January. She added that she will continue to invest in the cryptocurrency as its price declines. The senator also believes that the digital coin could contain the devaluation of the US dollar and other fiat currencies.

From the reports of the member of the United States Congress Mary Newmanit follows that her husband made at least 16 transactions with shares of the first public crypto exchange Coinbase. The last time Newman's husband sold securities of a trading platform in the amount of $ 50,000 to $ 100,000. Jim Newman also invested no more than $ 50,000 in the Grayscale Bitcoin Trust in November.

Congressman Jake Okincloss reported that heowns a share of $ 15 thousand in Flipside Crypto Investor Holdings. Republican Barry Moore invested the same amount in a brokerage company in Alabama. Moore indicated in the description of the organization "cryptocurrency". According to reports, its dividends for 2020 ranged from $ 2.5 thousand to $ 5 thousand.

In early December, it became known that 26% of American investors already own bitcoin. These results were presented by Grayscale Investments based on their own survey.

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