A filing with the Securities and Exchange Commission (SEC) shows that Senator Cynthia Lummis (R-WY) purchased between $50,001 and $100,000 BTC on August 16. Bitcoin on this day cost over $46,000, according to the crypto price tracking website CoinGecko.
In an effort to limit members of Congress using non-public knowledge for personal gain, they are required to disclose investments within 45 days of the transaction. However, the Senator failed to disclose her August 15 BTC purchase within that time frame due to “a filing error,” reports CNBC.
The purchase occurred around the same time Lummis championed compromises to the much-debated infrastructure bill, which required certain crypto operators report transactions to the Internal Revenue Service as brokers.
While the exact quantity of BTC Lummis holds is unknown, the senator held about five bitcoin as of late June of 2021 and supported the cryptocurrency as a type of retirement investment strategy. “I think one of the strongest stores of value for the long run is bitcoin,” Lummis said in June.