U.S. Senator Cynthia Lummis has disclosed her bitcoin purchase worth between $50K and $100K. The Wyoming senator sees bitcoin as an “excellent store of value” that should be in every investment portfolio.
Senator Lummis Buys Bitcoin
The pro-bitcoin senator from Wyoming, Cynthia Lummis, disclosed her recent bitcoin purchase in a periodic transaction report (PTR) Thursday.
According to the record, the senator purchased BTC valued between $ 50,001 and $ 100,000 on August 16. The price of bitcoin was around $ 45,000 at that time.
The disclosure was made outside of the 45-day reporting deadline set by the Stop Trading on Congressional Knowledge (STOCK) Act. The law requires members of Congress to disclose each purchase and sale of stocks, bonds and commodity futures valued at more than $ 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 by indicating in late June that she was going to buy the decline as the price of bitcoin fell below $ 30,000. 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.”
Senator Lummis is a long-time supporter of bitcoin. She previously said that she bought her first BTC in 2013 for $330 and owned five bitcoins as of the end of June.
“I really see it as a great store of value for individuals, businesses and governments,” she commented of bitcoin in February, saying:
I still think it is an excellent store of value and that it should be part of every individual person’s investment portfolio.
