Connect with us

Politics

Ethereum and Litecoin: Congressperson Tulsi Gabbard likely lost money on purchases

Published

on



Tulsi Gabbard
Rep.
Tulsi Gabbard, D-HI., nominates Sen. Bernie Sanders, I-VT., for
President of the United States during the second day of the
Democratic National Convention in
Philadelphia.

AP/J. Scott
Applewhite



  • US Representative Tulsi Gabbard of Hawaii bought
    ethereum
    and litecoin
    in December 2017, a financial filing shows 
  • Even if the Democrat bought the coins at their lowest
    prices of the month, she would still be well in the red
    today.
  • Watch  ethereum
    and litecoin trade
    in real time here.

Tulsi Gabbard could be the first member of Congress to have
invested in cryptocurrencies.


According to a financial filing released Wednesday
, the
Democrat from Hawaii’s 2nd district bought between $1,001 and
$15,000 of both ethereum
and litecoin
in December of 2017. And while it’s not clear the exact amounts
purchased or the dates, its highly improbable the representative
made a profit.

Even if Gabbard bought the digital coins lowest prices of
December — $414 for ethereum and $83 for litecoin — she would
have been in the red as of the disclosure’s August 14 filing
date, given the coins’ respective prices of $278 and $54.56 on
that day. 

Gabbard’s office did not respond to a request for comment from
Business Insider.

The entire cryptocurrency market has gotten whacked since
January, when the craze surrounding the nascent industry was
nearing its peak. The flagship bitcoin
has declined by 52% this year after hitting a peak of $19,843
shortly after the new year.

And while Gabbard’s purchase might be the first by a sitting
Congressperson to invest in cryptocurrencies, it’s not the
digital coins’ first appearance on Capitol Hill. A
“buy bitcoin” sign made the rounds on Twitter in July 2017

when it made an appearance behind former Federal Reserve
Chairwoman Janet Yellen during her testimony before the House
Financial Services Committee.

Continue Reading
Advertisement Find your dream job

Trending