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US Senator Pat Toomey invested in Bitcoin and Ethereum thanks to Grayscale

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As revealed yesterday, July 7, 2021, US Senator Pat toomey invested about a month ago in Bitcoin and Ethereum thanks to the Grayscale Trust.

Politicians and prominent people in the States must make their interests and investments public, which is why Toomey also disclosed his information yesterday, including investments in Grayscale products.

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

On June 15, 2021, Bitcoin was worth $ 40,000, while Ethereum was worth around $ 2,500 on June 14, so the senator currently has losses on these two investments.

Pat Toomey and other congressmen investing in Bitcoin

Even Cynthia lummis, Senator from the US, in November 2020 she had revealed herself to a Bitcoin holder. Even last February he had publicly stated that he supported BTC together with Janet Yellen, the secretary of the United States Treasury, and that he also wanted to spread cryptocurrencies among family and colleagues.

Just yesterday, the Alabama congressman Barry moore He also said that he had bought cryptocurrencies, in particular Ethereum, Cardano, and Dogecoin.

Additionally, Eric Adams won the primaries yesterday in New York, who had previously stated that he wanted to make New York “the hub of Bitcoin,” probably referring to the idea of ​​attracting crypto-themed businesses to the city.

Grayscale Trust

Grayscale is an asset manager involved in helping institutions and private investors invest in various cryptocurrencies, including Litecoin, Bitcoin Cash, Filecoin, Zcash, and many more.

At the end of June, Morgan Stanley also invested in Grayscale, buying more than 28,000 shares linked to BTC. A few days earlier, Cathie Wood had also decided to invest in Grayscale by buying exactly 1,046,002 shares of Grayscale Bitcoin Trust (GBTC).

In a few days, precisely on July 17, Grayscale will unlock more than 16 thousand Bitcoins.

In total, the fund currently holds more than 650,000 bitcoins, which is currently equal to more than $ 26 billion, so the amounts to be unlocked are on the order of magnitude of 5% of the total.

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

Grayscale stronger than gold

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

Gold-anchored assets were, in fact, slowly losing value, while, by contrast, the Grayscale Bitcoin Trust at the time was experiencing a real rally, obviously thanks to the bull run of that period as well. In fact, let's remember that last April Bitcoin marked a value of 60 thousand dollars.



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