Senator Buys Up To $600K In Bitcoin ETF After Selling $1 Million In Goldman Sachs Stock: Committee Assignment Could Be Red Flag (CORRECTED)
Editor’s Note: The headline has been updated to reflect David McCormick’s current title.
A senator who bought shares of a Bitcoin (CRYPTO: BTC) ETF before President Donald Trump announced an Executive Order to establish a Strategic Bitcoin Reserve is back again with a hefty bet on the future price of the leading cryptocurrency.
What Happened: Trump’s friendly stance toward cryptocurrency helped propel Bitcoin and other cryptocurrencies to all-time highs after his 2024 presidential election win.
Bitcoin hit new all-time highs months later in January, ahead of Trump’s inauguration.
While the price of Bitcoin has fallen since Trump took office, potential plans for a Bitcoin Strategic Reserve could place optimism in the United States buying the leading cryptocurrency and sending the value of BTC higher.
Senator David McCormick (R-Pa.) could be hedging his investments on this very scenario. Benzinga previously reported that McCormick bought between $65,000 and $150,000 in shares of the Bitwise Bitcoin ETF (NYSE:BITB).
McCormick is back to buying shares of the Bitwise Bitcoin ETF, according to the Benzinga Government Trades page. This time, the Senator is investing with more size. Here’s a look at his latest BITB trades.
- Feb. 27: Bought $50,000 …
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