Cynthia Lummis (Republican US Senator from Wyoming) has revealed that she purchased Bitcoin (BTC), in an amount of up to $100,000, on August 16. The transaction was between $50,001 and $100,000, according to Thursday’s filings, which were not revealed by the Stop Trading on Congressional Knowledge Act (STOCK Act).
Members of Congress must disclose within 45 days the purchase or sale of individual stocks, bonds, and commodity futures under the STOCK Act. The 45-day disclosure deadline is not applicable to other funds. CNBC reports that Lummis delayed disclosing purchase because of a “filing error.” According to a spokesperson for her office, it was an honest mistake and the matter has been resolved without any penalty.”
Lummis was vocal about her bullish stance regarding the largest cryptocurrency market capitalization. CNBC interviewed her once about making her first Bitcoin purchase in 2013. She claimed that she paid $330 per coin for it and that she had five Bitcoins at the end of June.
Lummis Advocacy on Bitcoin
Lummis stated in a June interview that he would like cryptocurrency like bitcoin to be part of a diversified portfolio. This could include retirement funds or other savings opportunities. This disclosure comes just days after Bitcoin experienced a strong bull-run, which saw the price rise to above $50,000. It now quotes around $54,000 as of presstime.
Lummis stated that US Senators have been having productive discussions about crypto amendments on August 9. This has been an exciting day. Here’s the bottom line: We’ve had productive conversations with senators from all sides on this issue and I believe the cryptocurrency community would be happy if we could vote for amendments,” Lummis said at the time.
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