Bob Goodlatte, a Republican lawmaker from the sixth district of Virginia, has revealed he holds between $17,000 to $80,000 in cryptos.
In a disclosure report, among a long list of investments in stocks and other financial instruments, the congressman says he has between $1,000-$15,000 in eth, the same in Bitcoin Cash and between $15,000 to $50,000 in bitcoin.
Goodlatte appears to be interested in technology. He is currently the co-chairman of the bipartisan Congressional Internet Caucus, Chairman of the House Republican High-Technology Working Group, and Co-Chairman of the Congressional International Anti-Piracy Caucus.
He is to retire now after serving since 1993, with Goodlatte not standing for re-election this November.
His son, Bobby Goodlatte, is an angel investor in Coinbase, among many other start-ups. He appears bullish on cryptos, so that’s perhaps where daddy got the coins from.
We do not know, however, as the congressman has made no comment on the matter, but following a change of disclosure rules this June requiring disclosure of crypto holdings, many other congressmen might join Goodlatte.
One reason may be because cryptos are rising as a popular method to diversify investment portfolios to hedge savings.
Studies have shown that investment portfolios with cryptos in them tend to have slightly higher overall returns.
Congressmen, who usually are very rich with pages and pages of investments in stocks and other traditional instruments, would have probably diversified at least a small amount and at least some of them.
The only full disclosure so far has been in Ukraine where 57 lawmakers revealed they had invested in cryptocurrencies at the beginning of the year.
For US lawmakers, the change in rules was only this June, so it may take some time until a full picture emerges regarding congressional crypto holdings.
We wouldn’t be surprised, however, if some of them do have at least some bitcoin and eth, but we look forward to seeing if any of them has any tokens.