Cardano, Dogecoin and eight different Cryptos Congress purchased in 2021 – InvestorPlace

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Historically, Congress and cryptocurrencies have not been a match made in heaven. However, it seems that some politicians are still interested in digital assets given the discussion about regulation. Unusual Whales, a blog that tracks unusual market activity, recently published a report on how Congress traded cryptos last year. It is worth checking the results.

Source: Shutterstock

So which cryptos were popular in Congress last year?

Bitcoin (CCC:BTC USD) was, unsurprisingly, the king of Capitol Hill in 2021. Republican lawmakers Cynthia Lummis and Michael Waltz each bought about $100,000 worth of BTC in 2021 ether (CCC:ETH USD) trust or invest in companies with stakes in crypto. These include Rep. Marie Newman and Senator Patrick Toomey, who have bought about $50,000 to $30,000 worth of bitcoin through the Grayscale Bitcoin Trust (OTCMKTS:Conditions). Toomey also bought Ethereum through the Grayscale Ethereum Trust (OTCMKTS:fever).

This is also the story of Speaker of the House Nancy Pelosi. Pelosi reported around $6 million NVIDIA (NASDAQ:NVDA) Stock Purchases, a company with significant exposure to cryptocurrency. Given her average stock return of 25%, she knows the markets inside out.

What Else Do Congressmen Buy?

Cryptos abound in lawmakers’ portfolios

Rep. Mark Green has perhaps the most diverse collection of cryptos under his belt. In the spring of 2021, Green bought Dogecoins (CCC:DOGE USD), EOS (CCC:EOS USD), Stellar (CCC:XLM USD), chain link (CCC:LINK USD) and more. Interestingly, Green is also the only member of Congress to sell some of his crypto holdings.

Republican Rep. Barry Moore bought about $50,000 Cardano (CCC:ADA USD) and Ethereum in the past year. He is also an obvious Pupcoin fan and is benefiting from the Dogecoin boom.

While only six members of Congress actually own cryptos, nearly 30 lawmakers are indirectly involved in the crypto game. companies like coin base (NASDAQ:COIN), PayPal (NASDAQ:PYPL) and Nvidia are each responding to changes in the crypto space, making them a compelling alternative to outright ownership.

Ahead of the upcoming regulation, the crypto market is clearly on the move. It is unclear how forthcoming policy changes will affect the collective holdings of Congress. Time will tell if the US Capitol will be the next Doge Daycare.

At the time of publication, Shrey Dua held no position (neither directly nor indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publicity guidelines.


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