Tulsi Gabbard became the second member of Congress, who invested into cryptocurrency. And, it seems, she is not very successful in this, yet.
According to the disclosed data, American politician bought altcoins at the peak of their value. In December 2017, Gabbart invested in the ethereum (TIKER: ETH/USD.BITFINEX) and litecoin (TIKER: LTC/USD.BITFINEX). If we take into account how the courses of the cryptocurrencies have fallen since that moment, the member of Congress has not yet made a profit from her investments.
At that moment, one coin of the ethereum could cost Gabbart $444 - $814, and the litecoin - $87- $344. Today, August 23, according to Coinmarketcap.com, the ethereum rate is about $270 per coin, litecoin is trading at $55 mark.
WHY IS IT IMPORTANT?
- Earlier this year, the House Committee on Ethics prepared a memorandum, urging the U.S. House of Representatives members to disclose their virtual investments if they exceed $1,000.
- This memorandum was mainly set up to prevent any future conflict of interest as the official status of cryptocurrencies has not yet been determined by the U.S. lawmakers.
- Recall that the Congressman Bob Goodlatte became the first U.S. politician who has revealed his cryptocurrency investments. According to the Financial Disclosure Statement of Congressman Goodlatte, he owns between $15,001 and $50,000 worth of bitcoin (TIKER: BTC.EXANTE) along with bitcoin cash (TIKER: BCH.EXANTE) and ethereum (TIKER: ETH/USD.BITFINEX) valued at between $1,001 and $15,000 each.