Congress was buying Cardano, Dogecoin, and 8 Other Cryptocurrencies in 2021.-Cryptocurrency.Mohoagd

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Congress circulated cryptocurrency news last year, according to a report by Odd Whales.


Historically, Congress and cryptocurrency haven't been the best of friends. However, it appears that, despite the looming threat of regulation, some lawmakers remain enthusiastic about digital assets. A report on how Congress traded cryptos last year was recently published by Odd Whales, a blog that follows unusual market action. The outcomes are worth investigating.


So what cryptos were popular in Congress last year?


Unsurprisingly, Bitcoin  reigned supreme on Capitol Hill in 2021. In 2021, Republican legislators Cynthia Lummis and Michael Waltz each bought $100,000 worth of Bitcoin. Surprisingly, a number of members of Congress have indirectly invested in crypto, either through a Bitcoin or Ethereum  trust or through investments in companies with crypto interests. Rep. Marie Newman and Sen. Patrick Toomey, respectively, purchased $50,000 and $30,000 in Bitcoin through the Grayscale Bitcoin Trust (OTCMKTS:GBTC). Toomey also invested in Ethereum via the Grayscale Ethereum Trust (OTCMKTS:ETHE).


Speaker of the House Nancy Pelosi is in the same boat. Pelosi reported $6 million in stock purchases from Nvidia (NASDAQ:NVDA), a business with significant cryptocurrency exposure. She certainly knows her way around the markets, as seen by her average stock return of 25%.


What else are Congress members buying?


Cryptocurrency news spreads through lawmakers’ securities portfolios


Rep. Mark Green may have amassed the most eclectic collection of cryptos. Green bought Dogecoin , EOS , Stellar , Chainlink , and other cryptocurrencies in the spring of 2021. Green is also the only member of Congress who has sold off some of his cryptocurrency assets.


Last year, Republican Rep. Barry Moore purchased about $50,000 worth of Cardano  and Ethereum. He also appears to be a pupcoin devotee, profiting on the Dogecoin craze.


Who owns cryptocurrency in Congress? The future of cryptocurrency 2021


Despite the fact that only six members of Congress own cryptos, approximately 30 politicians are indirectly active in the cryptocurrency market. Companies such as Coinbase (NASDAQ:COIN) , PayPal (NASDAQ:PYPL), and Nvidia all react to changes in the cryptocurrency market, offering them a compelling alternative to direct ownership.


The crypto market is certainly in turmoil ahead of approaching regulation. What isn't known is how upcoming legislative changes will influence Congress' overall holdings. If the United States Capitol becomes the next Doge Daycare, only time will tell.

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