Congressman Barry Moore from Alabama has been buying Dogecoin( DOGE), ether (ETH) and Cardano (ADA) over the past months, writes The Block with reference to documents sent by him to the secretariat of the House of Representatives on July 2.
So, on May 5, Moore acquired " Etherium "(approx. - the spelling from the original documentation was saved), after which I invested in Cardano on May 10, 11 and 13, and on June 13 I bought Dogecoin. The exact amount of purchases is not given, but each of them was in the range from $1,000 to $15,000. Thus, in total, he could invest from $5,000 to $75,000 in cryptocurrencies.
Moore apparently used the exchange to buy cryptocurrencies, since ADA is not available in more mainstream services such as Robinhood or PayPal.
So far, the congressman cannot boast of profits from cryptocurrency investments. ADA was trading around $1.65-1.90 on the days of the acquisition, but has since fallen to $1.41. The ether exchange rate was around $3,000 and by May 13 reached a maximum above $4,300, but since then it has adjusted to the current $2,300. With Dogecoin, Moore managed to avoid a collapse from the historical maximum of $0.73, but, nevertheless, since the purchase, the price of the cryptocurrency has decreased from $0.31 to $0.23.
US lawmakers are required by law to disclose data on their operations in the financial markets, and Moore has already expired the stipulated reporting period except for the last purchase of Dogecoin, but as a newcomer to Congress, he is subject to more lenient requirements. The congressman did not say whether he had already sold any cryptocurrency.