US Senator Lummis buys more Bitcoin and sees BTC as ‘great store of value’

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US Senator Cynthia Lummis has revealed her purchase of bitcoin worth between $ 50,000 and $ 100,000. The Wyoming senator sees bitcoin as an “excellent store of value” that should be in every investment portfolio.

Senator Lummis buys Bitcoin

Wyoming pro-bitcoin senator Cynthia Lummis revealed her recent bitcoin purchase in a periodic transaction report (PTR) on Thursday.

According to the record, the senator bought BTC for a value between $ 50,001 and $ 100,000 on August 16. The price of bitcoin was around $ 45,000 at that time.

A PTR file for Senator Cynthia Lummis showing a bitcoin purchase on August 16.

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 every purchase and sale of stocks, bonds and commodity futures valued at more than $ 1,000 within 45 days of the transaction.

A spokesperson for Senator Lummis’ office told CNBC the delay in disclosure was due to “a misclassification”, saying:

Once we realized it, we worked with the ethics committee to fix it. It was an honest mistake, and the problem was 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 drop in the price of BTC, she said: “I’m really excited because as soon as it drops a little more I’m going to buy more.”

Senator Lummis is a long-time supporter of bitcoin. She previously said she bought her first BTC in 2013 for $ 330 and owned five bitcoins at 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’s a great store of value and should be part of every person’s investment portfolio.

What do you think about Senator Lummis buying more bitcoin? Let us know in the comments section below.

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