U.S. Senator Pat Toomey invests in Bitcoin and Ethereum through Grayscale

As announced via a personal financial report on July 7, 2021, US Senator Pat Toomey invested in Bitcoin and Ethereum through Grayscale Trust about a month ago.

US Senator Pat Toomey invests in Bitcoin and Ethereum through Grayscale

US politicians and celebrities have to make their interests and investments public, which is why Toomey is also disclosing his information, including investments in Grayscale products.

According to this data, Toomey bought between $ 1,000 and $ 15,000 in Grayscale Ethereum Trust and Grayscale Bitcoin Trust in mid-June this year.

Bitcoin was worth $ 40,000 on June 15, 2021, while Ethereum was worth around $ 2,500 on June 14, so the Senator is currently at a loss about these two investments.

Even Cynthia Lummis, a US Senator, showed up to a Bitcoin holder in November 2020. Last February, Cynthia Lummis publicly stated that he and Janet Yellen, Secretary of the US Treasury Department, supported BTC and also wanted to spread crypto among his family and colleagues.

Recently, Alabama Congressman Barry also said he had bought cryptocurrencies, specifically Ethereum, Cardano, and Dogecoin.

In addition, Eric Adams won the New York primary yesterday, who previously stated that he wanted to make New York a “bitcoin hub,” possibly referring to the idea of ​​attracting crypto-themed companies to the city.

Grayscale Confidence

Grayscale is an asset management company that helps institutions and retail investors invest in various cryptocurrencies including Litecoin, Bitcoin Cash, Filecoin, Zcash, etc.

In late June, Morgan Stanley also invested in Grayscale and bought over 28,000 BTC-linked stocks. A few days earlier, Cathie Wood had decided to invest in Grayscale by buying exactly 1,046,002 shares in the Grayscale Bitcoin Trust (GBTC).

In the next few days, more precisely on July 17th, Grayscale will unlock over 16,000 Bitcoins.

In total, the fund currently holds more than 650,000 bitcoins, or more than $ 26 billion, so the unlocked amount is on the order of 5% of the total.

At the end of February, they launched a total of 3,560 BTC, but most of the liquidations will take place in July.

According to data from last April, Grayscale’s Bitcoin Trust was worth more than $ 40 billion, a number that exceeded investments in even the largest gold-linked ETFs at the time.

In fact, assets tied to gold are slowly depreciating in value while the Grayscale Bitcoin Trust was seeing a downright rally at the time, apparently thanks to the $ 60,000 bull run.

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