U.S. Senator Cynthia Lummis has disclosed her bitcoin purchase worth between $50K and $100K. The senator from Wyoming sees bitcoin as an “excellent store of value” that should be in every investment portfolio.
Senator Lummis Buys Bitcoin
The disclosure was made outside of the 45-day reporting deadline set by the Stop Trading on Congressional Knowledge (STOCK) Act. The Act requires members of Congress to disclose every purchase and sale of individual stocks, bonds, and commodity futures valued over $1,000 within 45 days of the transaction.
A spokesperson at Senator Lummis’ office told CNBC that the disclosure delay was due to “a filing error,” stating:
Once we realized it we worked with the Ethics committee to fix it. It was an honest mistake, and the issue has been resolved without penalty.
Lummis’ bitcoin purchase in August followed her indicating at the end of June that she was going to buy the dip as the price of bitcoin fell below $30K. Commenting on the falling BTC price, she said, “I’m really excited about it because as soon as it drops a little more I’m going to buy some more.”
I still think it is an excellent store of value and that it should be part of every individual person’s investment portfolio.
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