Democratic Lawmaker Gabbard Latest To Disclose Crypto Holdings
Hawaii’s Democratic Representative Tulsi Gabbard disclosed that she entered the crypto market last year. She is yet another congress member to make this disclosure; a sign that cryptocurrencies are reaching a more mainstream political audience.
Unfortunately for Gabbard, she bought when the market was near all-time highs. Since that time, the whole market experienced a retraction between 65% and 70%.
Tulsi Gabbard Bought Crypto in December 2017
Mrs. Gabbard bought between $1,001 and $15,000 of Ether (ETH) and Litecoin (LTC) in December 2017. The information has was revealed in a filing with the U.S. House of Representatives. Until now, she has not had to say the exact amount of virtual currencies she bought or still owns.
The information provided by Gabbard was filed this month.
At the time of her purchase, Ether coin’s were trading for around $800 dollars. Currently, ETH is being traded close to $281 dollars. Litecoin was trading close to $350 dollars and with a current price of $57 dollars.
Moreover, the crypto market was worth $800 billion dollars back in 2017, and now, it is worth $200 billion dollars.
There are other U.S. lawmakers that have invested in cryptocurrencies like House Judiciary Committee Chairman Bob Goodlatte. He declared he had between $17,000 and $80,000 dollars in different cryptos such as Bitcoin, Bitcoin Cash, and Ether. This information has come via the Virginia Republican’s annual financial disclosures.
Looking to cash in on the attention, Goodlatte’s son Bobby announced on Twitter that his father possessed virtual currencies.
If and as more lawmakers come into the field with investments and/or knowledge of blockchain’s innovative potential, the U.S. may see more favorable laws come to light.