U.S. Sen. Dave McCormick (R., Pa.) is investing in bitcoin as the Senate Banking Committee, on which he sits, is mulling legislation on cryptocurrency regulation.
The freshman Republican senator spent anywhere from $505,000 to about $1.1 million in crypto purchases, along with several million in state or municipal bonds, according to financial disclosure reports. Federal ethics guidelines require senators to disclose within 30 days the purchase or sale of any stock, bond or other security.
The rules don’t require the disclosure of exact dollar value, just a value range for each trade.
McCormick, a former CEO of Bridgewater, the world’s largest hedge fund, logged 15 trades between February and the end of March, all of which were…
