The US senator revealed that he had invested in BTC and ETH- how many cryptocurrencies do they hold?
2 min readA U.S. lawmaker who is a member of the Senate Banking Executive Committee has announced its investments in BTC and ETH. Pennsylvania Republican Pat Toomey has invested up to $ 30,000 in the two assets through trusts from Grayscale Investment Company.
Senator Pat Toomey has invested in BTC and ETH
Based on information released by Toomey to the Senate Public Records Office, he invested $ 1,001 to $ 15,000 in the Grayscale ETH Trust (ETHE) on June 14 and $ 1,001 in $ 15,000 in the Grayscale BTC Trust (GBTC) on June 15 June.
Toomey’s previous financial report of 2019 showed no signs of cryptocurrency, although he had been a supporter of the sector in the past. Last month, the senator called on Finance Minister Janet Yellen to significantly revise two proposals aimed at tackling the illegal abuse of cryptocurrencies.
“The proposals would adversely affect financial technology, Americans’ basic privacy, and efforts to combat illegal activity.”
Also in 2019, Senator Toomey defended Facebook from attempts by regulators to take action against plans for a stable company.
Toomey’s purchases make him one of the first senators to publicly invest in cryptocurrencies. Cynthia Lummis announced the investment in BTC, and just a few days ago, Alabama Congressman Barry Moore bought ETH, Cardano and Dogecoin. Unlike Moore, Toomey decided to buy Grayscale Investments’ publicly traded offers, which are based on stocks and not on the customer’s direct purchase of cryptocurrency.
Market data suggests that the value of Toomey’s shares has fallen slightly compared to when he bought them. Both trusts recorded local highs around June 14 and 15, when Toomey shopped, and then recorded a decline, from which they have been recovering ever since.
