Alabama Congressman Felix Barry Moore buys Dogecoin (DOGE), Cardano (ADA) and Ethereum (ETH) Here are the details!
According to documents filed, U.S. Congressman Felix Barry Moore purchased stakes in Dogecoin (DOGE), Cardano (ADA) and Ethereum (ETH), during the months of May and June.
Specifically, a presentation by Congresstrading.com reveals the purchase of three cryptocurrencies by a member of the U.S. House of Representatives.
May 5 Ethereum
May 10 Cardano
May 11 Cardano
May 13 Cardano
June 13 Dogecoin
As is known, Felix Barry Moore, is an American politician serving as the United States Representative for Alabama's 2nd congressional district as of this year. Prior to his election to the U.S. House of Representatives, he served as a member of the Alabama House of Representatives.
Barry Moore buys Dogecoin, Cardano, and Ethereum.
Notably, Moore, has become the second U.S. Congressman, to publicly disclose Dogecoin (DOGE) purchases.
Thus, according to his periodic transaction report, filed with the Clerk of the House of Representatives on July 2, Barry Moore disclosed his recent cryptocurrency purchases. Which include Dogecoin.
As a curious fact, the report does not specify how much of each cryptocurrency Moore invested. But, they give a range of $ 1,000 to $ 15,000 for each purchase. That is, he bought between $ 5,000 and $ 75,000 in total.
It is worth mentioning, that Barry Moore's disclosures are part of the requirements mandated by the "Stop Trading on Congressional Knowledge Act" or the "STOCK Act".
Primarily, the STOCK Act, passed in 2012, requires federal lawmakers to report certain financial transactions. In fact, the intent is to limit the possibility of insider trading on information obtained from information that is not made available to the public
Barry Silbert stated that Dogecoin is highly overvalued.
Mark Green profits from Dogecoin
Similarly, Mark Green, a congressman from Tennessee, bought Dogecoin in early April. He effectively made two Dogecoin purchases that were each worth between $1,000 and $15,000 at the time.
Green sold his Dogecoin on May 11, at which point the cryptocurrency was priced at 50 cents. That means, all the coins Green bought on April 1 earned a profit of 800%, while those he bought on April 11 earned a return of more than 400%.
Regulations on Congress' doorstep.
By the way, last week, the Congressional Subcommittee on Oversight and Investigations held a hearing with crypto experts. On possible cryptocurrency regulations.
In the same vein, congressmen were eager to examine the potential risks and opportunities of cryptocurrencies. And their impact on the financial system.
In fact, Democratic Congressman Brad Sherman, is one of the most vocal members of Congress against cryptocurrencies. Stating, he would rather let people buy tickets in the California lottery than invest in cryptocurrencies.
"Cryptocurrencies are very volatile. They are also politically supported by patriotic anarchists who advocate tax avoidance. I hope we shut it down."
However, most representatives hinted that they are still forming opinions about the technology. And, that they are eager to better understand cryptocurrencies.
Indeed, Congressman Tom Emmer, stated that cryptocurrencies make it possible for consumers to access convenient financial services. He even sees a positive side to cryptocurrencies in the wake of the pandemic.
I bow out with this quote from George Soros: "It doesn't matter at all whether you're right or wrong. What does matter is how much you make when you are right and how much you lose when you are wrong."