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U.S. Senator Patrick Toomey has declared investments in Grayscale\u2019s bitcoin and ethereum trusts. His declaration shortly followed one by fellow congressman, U.S. Representative Barry Moore, who declared that he had invested in dogecoin, ether, and cardano.<\/strong><\/p>\n A growing number of U.S. lawmakers are investing in cryptocurrencies or crypto-related investments. According to a Periodic Transaction Report filed on July 7, U.S. Senator Patrick Toomey from Pennsylvania declared<\/a> two personal cryptocurrency investments, each worth between $1,000 and $15,000. One was in Grayscale Bitcoin Trust (GBTC) and the other in Grayscale Ethereum Trust (ETHE).<\/p>\n The senator\u2019s investments have decreased in value since his purchases. He invested in Grayscale Bitcoin Trust (GBTC) on June 15 when the price was around $33.23. At the time of writing, it has fallen to $27.65. As for his investment in Grayscale Ethereum Trust, the price was $24.45 on June 14 when bought it but has since dropped to $20.41 at the time of writing.<\/p>\n Toomey has recently voiced concerns about crypto regulation. A few days before investing in Grayscale\u2019s bitcoin and ethereum trusts, the senator wrote a letter<\/a> to Treasury Secretary Janet Yellen urging the Treasury Department to \u201cmake significant revisions\u201d to the crypto proposals by the Financial Crimes Enforcement Network (FinCEN). He believes that if the current proposals are adopted, \u201cthey would have a detrimental impact on financial technology (fintech), the fundamental privacy of Americans, and efforts to combat illicit activity.\u201d He also raised concerns about FATF\u2019s guidance.<\/p>\n <\/ins> <\/ins> <\/p>\n The lawmaker from Pennsylvania is not the only U.S. senator with a bitcoin-related investment. The outspoken pro-bitcoin U.S. Senator Cynthia Lummis from Wyoming owns<\/a> about five bitcoins. She encouraged \u201cpeople to buy and hold\u201d BTC<\/a>. \u201cI encourage them to save bitcoin for their retirement, for their future.\u201d<\/p>\n Recently, U.S. Representative Barry Moore from Alabama also declared<\/a> his cryptocurrency investments. He bought dogecoin (DOGE), ether (ETH<\/a>), and cardano (ADA<\/a>).<\/p>\nSenator Pat Toomey\u2019s Cryptocurrency Investments<\/h2>\n
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