USSenatorCynthiaLummis,aRepublicanfromWyoming,hasjust?revealedthatshehasmadeasignificantpurchaseofbitcoin?(BTC).?Thispurchaseaddedtheequivalentof$100,000toherportfolio.UndertheStopTradingonCongressionalKnowledgeActof2012(STOCKAct),USsenatorsandseniorstaffwithearningsabove$119,554arerequiredtodisclosecertainfinancialtransactions.?Althoughthe?purchasewasn’t?disclosedwithin?the45-dayreportingdeadlinesetbyTheStopTradingonCongressionalKnowledge(STOCK)Act.
MembersofCongressarerequiredtodisclosethepurchaseandsaleofindividualstocks,bondsandcommodityfutureswithin45daysofthetransaction?under?The2012STOCKAct.SenatorLummis’?recentbitcoinspurchasefallswithinthe45-dayrequirement.OtherassetssuchasT-billsandmutualfundsareexempt?fromthe45-dayrequirementandonlyneedtobedisclosedannually.Thedifferenceinreportingschedulesisaimedtoprioritizethedisclosureoftradesthatcouldbeusedtoprofitfromnonpublicinformation.
AspokespersonatLummis’?officecommentedonthedelayindisclosingwasdueto“afillingerror.”?
LummishasbeenvocalaboutBitcoinandoverallthecryptocurrencyindustrylongbeforethispurchasehadtakenplace.SheoncetoldCNBCthatshefirstaddedBitcointoherportfolioin2013for$330perBTC,andshealreadyownedfivebitcoinsasoftheendofJune,2021.
Itseemsthecryptosupporter?willcontinuetogrowherholdingsinthevolatile?assetclass.CongresswomanLummishasalwaysbeenbullishonbitcoin.ShehadalsopromotedWyomingasthefrontrunnerindeveloping?financialinstitutionstoworkwiththecryptoworld.SheoncecommentedinaFoxNewsinterview?thatsheknowthereisn’tmuchknowaboutbitcoin,especiallyintheCongress,thatshewantstoensureeveryoneunderstandsthecryptocurrency’simportanceasagreatstoreofvalue.
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