A new rule by the Congress of the United States required members of the House to disclose their cryptocurrency holdings. One member, Representative Bob Goodlatte the current Chair of the House Judiciary Committee holds cryptocurrencies such as Bitcoin, Bitcoin Cash and Ethereum.
The new rules of disclosing cryptocurrency holdings similar to other financial asset disclosures were passed in late June by the U.S House Ethics Committee.
Australia has similar rules, whereby members of the government declare cryptocurrency holdings.
According to reports, Goodlatte holds anything between $17,000 and $80,000 with his portfolio including a majority of Bitcoin, and smaller amounts of Bitcoin Cash and Ethereum.
Goodlatte’s son, Bobby Goodlatte Jr. is a cryptocurrency investor and enthusiast who has invested in Coinbase and is an active trader himself. A conversation over dinner about cryptocurrencies might have led the son to inspire the father into investing in cryptocurrencies, given the massive returns.
Goodlatte might have been the only person as of now to disclose the cryptocurrency holdings. However, others such as Greg Gianforte, David Schweikert and Mark Warner are said to hold cryptocurrencies themselves with mentions of blockchain and cryptocurrencies in the past.
Warner, for example, had spoken about a $20 trillion market capitalization for cryptocurrency by 2020 at a hearing of the Senate Banking, Housing, and Urban Affairs Committee this year.
“I think we may be on top of something that is transformational… If we have the same rate of increase the next two years that we’ve had the last couple of years, we’d be at the north of $20 trillion [market capitalization] caught up in this area by 2020,” Warner said.
Do you think the president of the United States Donald Trump holds cryptocurrencies? If yes, do let us know what cryptocurrencies he might hold?
Image Source: “Flickr”