Simply put
- Rep. Sheri Biggs (R-South Carolina) disclosed on Friday that she invested up to $250,000 in BlackRock’s Spot Bitcoin ETF (IBIT) last month.
- The Stand With Crypto Alliance, a grassroots group that Coinbase initiated, notes that U.S. lawmakers generally support cryptocurrencies.
- This isn’t her first move into Bitcoin; last July, Biggs revealed another IBIT purchase, again worth up to $250,000.
Rep. Sheri Biggs (R-South Carolina) recently indicated that she acquired up to $250,000 of BlackRock’s Spot Bitcoin ETF (IBIT). This marks her latest investment in the popular digital currency.
Interestingly, some data suggests that a rare trade may have only cost around $100,000. U.S. lawmakers are only required to report transactions above certain amounts.
Shortly before her investment in Bitcoin, Biggs also bought shares in a private credit fund from Apollo, while her colleagues opted for a similar product from Oaktree, a rival firm.
Biggs made her latest IBIT investment on March 4, shortly after a conflict involving Israel and Iran began. At that time, Bitcoin was valued at approximately $67,800, and it has risen around 14% since then.
Investments in digital assets have become increasingly common among congressional members. Former Rep. Marjorie Taylor Greene (R-Ga.) was the last to report a purchase, indicating she bought between $1,000 and $15,000 in BlackRock’s ETF last November.
While Biggs’ official Congress page doesn’t mention digital assets, a spokesperson stated she has been recognized as a “strong supporter of crypto” by the Stand With Crypto Alliance.
Advocacy groups have pointed out that Biggs backed three cryptocurrency-friendly bills, namely the CLARITY Act, the GENIUS Act, and last year’s HJ Res 25, which aimed to alleviate tax reporting requirements for decentralized finance projects that some lawmakers deem too strict.
Having assumed her role in January of last year representing South Carolina’s 3rd Congressional District, Biggs has reportedly faced scrutiny for previously not adhering to the Congressional Cease and Desist Act, as per an analysis by the U.S. Congress.
Last October, it was reported that Biggs missed a 45-day deadline for reporting over 170 trades that she and her husband executed, including another investment of up to $250,000 in BlackRock’s Spot Bitcoin ETF last July.
Her most recent IBIT purchase on March 4 left her with just one day to satisfy the legal requirements for disclosure.
Biggs’ office has been reached for comment.
