US politicians invest in the cryptocurrency market

The members of the US Congress invest money in bitcoin, the shares of the Coinbase cryptocurrency exchange, and the Grayscale Investments investment funds

16.12.2021 - 10:00

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What’s new? The Business Insider has analyzed data on the personal finances of members of the US government. It turned out that many of them invest in the cryptocurrency market.

The Business Insider material

Who invests money and where? Jeff Van Drew, a member of the House of Representatives, invested the largest amount, $250 000. He invested his money in one of the crypto funds managed by Grayscale Investments.

Cynthia Lummis, a Republican Senator in Wyoming, reported buying between $50 000 and $100 000 worth of BTC. Lummis also said she would continue to buy the cryptocurrency as its price decreases.

The husband of Marie Newman, a US congressman, has made more than 16 transactions involving the shares of the Coinbase cryptocurrency exchange. According to the latest transaction, Newman's husband sold more than $50 000 worth of securities.

Congressman Jake Auchincloss owns a $15 000 stake in the cryptocurrency company Flipside Crypto Investor Holdings.

What does this data mean for the US? According to a Grayscale Investments survey, a quarter of the US investors own bitcoin or have other cryptocurrency investments. And this week, the US held a hearing on the regulation of stablecoin. Based on these factors, the country is at the last stage towards the legislative regulation of cryptocurrency.

The Grayscale Investments survey

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