Congress and the star of cryptocurrencies, historically, haven’t quite matched. However, it seems that some politicians are still keen on altcoin projects such as Bitcoin (BTC) and Dogecoin (DOGE), Ethereum (ETH). Unusual Whales, which tracks unusual market activity, released a report last year on how Congress is doing crypto trading. The results are worth examining. Cryptocoin. com, we convey the details…
US lawmakers have DOGE, ETH, ADA, BTC and more on their radar
Not surprisingly, Bitcoin was king of the US capital in 2021. Republican lawmakers Cynthia Lummis and Michael Waltz bought nearly $100,000 worth of BTC in 2021. Some members of Congress have indirectly invested money by investing in a Bitcoin or Ethereum trust fund, or by investing in companies that have stakes in crypto.
This includes Representative Marie Newman and Senator Patrick Toomey, who bought about $50,000 and $30,000 worth of Bitcoin through the Grayscale Bitcoin Trust. Toomey also bought Ethereum through the Grayscale Ethereum Trust. House Speaker Nancy Pelosi bought a stake in Nvidia, a company with significant exposure to cryptocurrency.
Representative Mark Green acquired Dogecoin, EOS, Stellar, Chainlink and more in spring 2021. Interestingly, Green is the only Congressman to sell some of his crypto holdings. Republican Representative Barry Moore bought about $50,000 worth of Cardano and Ethereum last year. It also became one of the beneficiaries of the Dogecoin boom. Only six members of Congress own crypto directly, while nearly 30 legislators are indirectly involved in the crypto game. There are also those who invest in the shares of companies such as Coinbase, PayPal and Nvidia.
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