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Two U.S. Senators are buying up Bitcoin.
And the two powerful legislators are working to develop a legal framework for cryptocurrency investments.
That’s bullish news for digital currencies in 2022.
Go here to discover “the next Bitcoin” to BUY in December.
The Senate Banking Committee has been holding hearings related to cryptocurrencies and stablecoins.
Two senior Senators on that Committee are advocating limited regulation of cryptocurrency. They also happen to own lots of Bitcoin.
- Senator Cynthia Lummis is a Republican from Wyoming. She owns 5 Bitcoin worth approximately $240,000– making her the lawmaker with the greatest stake in digital currencies.
- Senator Pat Toomey is a Republican from Pennsylvania. He invested in the Grayscale Bitcoin Trust (OTC: GBTC) and Grayscale Ethereum Trust (OTC: ETHE). His total investment is reported to be between $2,000 – $30,000.
Nine members of the House of Representatives also own cryptocurrencies. Plus, five White House officials own digital currencies, according to publicly available disclosure filings.
Tim Wu is a senior advisor to President Biden. His Bitcoin holdings are reported to be valued at between $1 million – $5 million. Plus, he owns $100,000 – $250,000 in Filecoin (FIL).
Another White House insider is Ryan Montoya. His crypto holdings are valued at between $467,000 and $1,080,000.
This is great news…
The House Financial Service committee began holding hearings related to crypto regulation in early December. Industry insiders from companies including FTX and Coinbase shared their views on regulation with Congress.
The testimony revealed how uninformed Congress is when it comes to digital currencies.
It’s critical that people in Congress and the White House understand the benefits of cryptocurrencies. Personal ownership of these assets is an easy way for them to get involved.
Critics like Representative Alexandria Ocasio-Cortez say that members of Congress should not own any stocks or digital currencies. She argues that it presents a conflict of interest.
However, it isn’t likely that Congress will pass legislation limiting the members ability to invest.
Legislators are more likely to take a hands-off approach to regulation – IF they actually understand these new digital assets.
A regulatory framework from Washington would be welcomed by the industry. That’s especially true if it was designed to let this booming industry continue to grow – without restraints.
I’m bullish on the entire sector. And that’s why I’m placing small bets on “the next Bitcoin.”
In fact, I’m putting together a FINAL year-end briefing with urgent derails. It’s called the…
Inside this urgent briefing you’ll discover:
- Why the crypto bull market could continue for 5-months
- How $2.7 trillion in capital rush into cryptos
- Why a select group of coins could takeoff on January 7
- 3 simple steps for finding “the Next Bitcoin”
- #1 crypto to buy now – NAME and TICKER
The LIVE briefing is happening this week. And you will NOT want to miss out…
Click here to RSVP (it’s FREE to attend).
Yours in Wealth,