U.S. Sen. Dave McCormick, former CEO of Massive Hedge Fund Bridgewater Associates, puts his own cash in Bitcoin (BTC) as the committee he is on is at the tip of the spear in order to regulate the digital asset industry.
McCormick has repeatedly made his recent investment in Bitwise Bitcoin ETFs worth hundreds of thousands of dollars, according to disclosures this week. Due to the extent that is being used in such lawmaker disclosures, the latest investments last month can only be between $310,000 and $700,000.
The new investment could bring the total investment closer to 1 million, following McCormick’s disclosure of up to $450,000 at Bitwise ETF in February. His investment represents the majority of Bitcoin he will invest in Congress this year. Georgia Republican leader Marjorie Taylor Greene invested much less money and supported BlackRock’s iShares Bitcoin Trust (IBIT).
The Republican Senator from Pennsylvania has served in a series of well-known government positions throughout his career, but has been placed in the Senate on a subcommittee of the Senate Bank’s new committee of digital assets. It is the group of lawmakers closest to future actions on cryptography, which are expected to move this year.
Last year, a former hedge fund executive argued that America needed to lead the crypto. He said at the subcommittee’s first digital assets hearing in February, “This Congress must work with President Trump to pass a bipartisan digital assets law that will guide a future of innovation and ensure a robust economic future for the United States.”
While his Bitcoin stocks have surpassed other lawmakers, he has placed most of his investments in municipal securities in recent months, the disclosure shows.
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