Rep. Sheri Biggs Doubles Down on Bitcoin, Buys Up to $250K of BlackRock’s ETF

Rep. Sheri Biggs (R-SC) revealed on Friday that she bought up to $250,000 in BlackRock stock. Bitcoin ETF (IBIT) last month, which reflects the Conservative House member’s latest bet on the leading digital asset based on market capitalization.

Purchases would be as low as $100,000, Exotic Whales data showedbecause US legislators only need to disclose the value of trade within the multi-national sector.

Around the same time that he found Wall Street’s most popular vehicle to showcase Bitcoin, Biggs bought shares in a private equity fund offered by asset manager Apollo. At this time, the representative sold the same product that was established by the competitor Apollo Oaktree.

Biggs’ latest purchase of IBIT was made on March 4, a few days after the US-Israel war with Iran began. At that time, Bitcoin was worth about $67,800, according to CoinGecko. The price of Bitcoin has increased by about 14% since then.

Over time, money related to the digital economy has become common among US lawmakers, from meme money share in Strategy (MSTR), the Bitcoin-buying behemoth. Rep. former Marjorie Taylor Greene (R-GA) was the last politician to disclose the purchase of a BlackRock Bitcoin ETF last November that was worth between $1,000 and $15,000.

Although Biggs’ home page does not contain language related to digital assets, the representative does observed as someone who “strongly supports crypto” and Stand With Crypto Alliance, an advocacy group founded by Coinbase.

The advocacy group says Biggs voted for three pro-crypto bills in the House: the CLARITY Actand GENIUS Actand HJ Res 25, a decision established last year that Tax reporting requirements have been abolished for decentralized financial services, viewed by lawmakers as “burdensome.”

The official, who was sworn in as South Carolina’s third district representative last January, appears to have previously violated the Stop Trading on Congressional Knowledge Act, or Stock Act, according to an investigation by to be known.

The publication reported last October that Biggs apparently failed to meet the 45-day deadline when disclosing more than 170 transactions made by her and her husband, which included some investments in BlackRock’s Bitcoin ETF up to $250,000 last July.

IBIT’s most recent purchase by proxy, which was made on March 4, indicated that Biggs had one day left under the law to make the details of the sale public.

Decrypt reached Biggs’ office for comment.