A member of Congress disclosed buying three cryptocurrencies in December, as the sector gets ready to welcome in a pro-cryptocurrency White House administration.
What Happened: With many cryptocurrencies hitting new all-time highs after Donald Trump’s 2024 election win, members of Congress like Representative Guy Reschenthaler (R-Pa.) are adding crypto to their portfolio.
According to Benzinga’s Government Trades page for Reschenthaler, the Republican Representative disclosed the trades recently in one filing.
Here are the cryptocurrencies purchased and the dates the trades were made:
- Dec. 11: $1,000 to $15,000 Solana SOL/USD
- Dec. 11: $1,000 to $15,000 XRP Token XRP/USD
- Dec. 23: $1,000 to $15,000 Bitcoin BTC/USD
The transactions are the first disclosed by Reschenthaler since he joined Congress in 2019.
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Why It’s Important: Reschenthaler, 41, has not been as vocal about cryptocurrency as other members of Congress have been. The purchase could be due in part due to his belief that a Trump presidency will be bullish for the cryptocurrency sector.
Here is a look at how much the Congressman paid for the cryptocurrencies versus where the price is today:
- Solana: 12/11 range $211.99 to $230.51, today $175.83
- XRP: 12/11 range $2.24 to $2.47, today $2.45
- Bitcoin: 12/23 range $92,403.13 to $96,416.21, today $91,836.61
Two of the Congressman’s purchases have lost money while the purchase of XRP has turned into a winning trade. Benzinga will closely monitor the trading activity of members of Congress when it comes to cryptocurrency in the coming months.
Last year, Reschenthaler proposed renaming the Washington Dulles International Airport, which is located 25 miles from Washington, D.C., to the Donald J. Trump International Airport.
“In my lifetime, our nation has never been greater than under the leadership of President Donald J. Trump,” Reschenthaler said at the time. “As millions of domestic and international travelers fly through the airport, there is no better symbol of freedom, prosperity, and strength than hearing ‘Welcome to Trump International Airport’ as they land on American soil.”
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