Bitcoin
Lummis, a US Senator, Buys More Bitcoin and Sees BTC an ‘Excellent Storage of Value’
U.S. Senator Cynthia Lummis has disclosed her bitcoin purchase worth between $50K and $100K. The senator from Wyoming sees bitcoin as an “excellent store of value” that should be in every investment portfolio.
Senator Lummis Buys Bitcoin
Wyoming’s pro-bitcoin senator Cynthia Lummis disclosed her bitcoin purchase in a weekly transaction report (PTR), Thursday.
According to the filing, the senator bought BTC worth between $50,001 and $100,000 on Aug. 16. The price of bitcoin was around $45K at that time.
The disclosure was made outside of the 45-day reporting deadline set by the Stop Trading on Congressional Knowledge (STOCK) Act. The Act requires members of Congress to disclose every purchase and sale of individual stocks, bonds, and commodity futures valued over $1,000 within 45 days of the transaction.
A spokesperson for Senator Lummis’ office stated to CNBC that the delay in disclosure was caused by “a filing error.”
Once we realized it we worked with the Ethics committee to fix it. The issue was resolved with no penalty.
Lummis’ bitcoin purchase in August followed her indicating at the end of June that she was going to buy the dip as the price of bitcoin fell below $30K. Commenting on the falling BTC price, she said, “I’m really excited about it because as soon as it drops a little more I’m going to buy some more.”
Senator Lummis has been a long-time supporter of bitcoin. She previously said that she bought her first BTC in 2013 for $330 and owned five bitcoins as of the end of June.
“I really see it as a great store of value for individuals, for corporations, and for governments,” she commented about bitcoin in February, stating:
I still think it is an excellent store of value and that it should be part of every individual person’s investment portfolio.
What do you think about Senator Lummis buying more bitcoin? Please let us know your thoughts in the comments below.
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