U.S. Senators And Their Bitcoin or Crypto Purchases, The Game Gets Real

By Bhushan Akolkar
Published July 8, 2021 Updated July 8, 2021
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U.S. Senators And Their Bitcoin or Crypto Purchases, The Game Gets Real

By Bhushan Akolkar
Published July 8, 2021 Updated July 8, 2021

“If you can’t beat them, join them”! The saying couldn’t be more true in the current scenario as lawmakers who were once bashing Bitcoin and crypto and now warming up to them. In the latest financial disclosure, a bunch of U.S. lawmakers has disclosed their exposure to Bitcoin and crypto-assets.


In the latest disclosure, U.S. Senator from Pennsylvania Pat Toomey has become the latest to disclose their Bitcoin holdings. Over the last few weeks, a number of other lawmakers have disclosed their crypto holdings as part of the Stock Act passed back in 2012.

U.S. Lawmakers And Their Crypto Disclosures

It all started with Cynthia Lummis – the U.S. senator from Wyoming – who publicly disclosed her Bitcoin holdings two weeks back. Lummis said that Bitcoin provides people financial freedom in countries especially with oppressive governments and where inflation has run out of control.

While not just stopping here, Lummis has gone further in her decision of inviting Bitcoin miners to her province. The crypto-friendly senator is looking forward to helping miners who have been fleeing out of China in large numbers recently. Additionally, the crypto-friendly state recently gave legal recognition to the first Decentralized Autonomous Organization )DAO) in the U.S. dubbed the American CryptoFed DAO.

In another major disclosure, U.S. congressman from Alabama, Barry Moore, disclosed that he had purchased Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE) in the period between May and June.

With the U.S. lawmakers actively seeking participation in the crypto space, we can expect better and clear rules going forward ahead this year. This also increases the probability of the U.S. getting its first Bitcoin ETF. Moreover, this also gives the U.S. the opportunity to leverage the benefits of crypto and maintain its economic stronghold amid challenges from China.

It will be interesting to see as to what set of regulations does the U.S. SEC brings by the end of this year.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan Akolkar
725 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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