Rep. Guy Reschenthaler (R-Pa.) recently disclosed owning Bitcoin (BTC), Ripple-linked XRP, and Solana (SOL). According to his portfolio, he invested between $1,000 and $15,000 in total.
He made the disclosure as part of the Stop Trading on Congressional Knowledge (STOCK) Act, which requires lawmakers to report any financial investments over $1,000.
Reschenthaler is just just one of the many members of Congress that have disclosed their holdings
Earlier this year, Rep. Mike Collins (R-Ga.) also disclosed that he invested in Ski Mask Dog (SKI). Collins bought SKI three different times in December 2024, with each transaction valued between $1,001 and $15,000.
Aside from SKI, Collins has also purchased Ether (ETH), Velodrome (VELO), and The Graph (GRT).
Other lawmakers, such as Rep. Barry Moore (R-Al) and Rep. Jeffrey Jackson (D-NC), have also joined in with a large purchase of cryptocurrency over the past few years. And this solidifies the fact that crypto is becoming popular in the U.S politics.
A 2021 Wall Street Journal report found that 11 members of Congress owned crypto, with nine of them coming from the House of Representatives.Moreover, the U.S. Senate is establishing a committee to oversee digital currency as cryptocurrencies gain more attention from investors.
This new committee will be Chaired by Sen. Cynthia Lummis who has been a big supporter of cryptocurrency and even recently floated a bill asking the U.S. Treasury to purchase 1 million Bitcoins over five years.
She has also shared on her social media accounts information about her own Bitcoin purchases, one from 2013 and another in 2021.The U.S. House Ethics Committee required lawmakers to report their cryptocurrency holdings above $1,000 starting from 2018.
Previously, crypto transactions were not under the rules guiding stocks and bonds. These rules are in place to bring clarity and prevent possible conflicts of interest.
Meanwhile, Sen. Elizabeth Warren (D-Mass.) said that it is wrong for lawmakers to invest in cryptocurrencies, calling it a “terrible conflict of interest.” She also felt glad that not many members of Congress own crypto assets.
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