With their financial disclousre report, many lawmakers are accumulating some cryptocurrency. This is a trend we can expect to continue.
In this video I discuss how a number of Senators and a couple House members disclosed those own cryptocurrency. There are also a number of others who own GBTC and the ETH trust. We are going to see this mounting as more members of Congress come from the technology generation.
Here is the article mentioned in the video:
https://zycrypto.com/us-lawmakers-have-been-loading-up-on-bitcoin-ethereum-cardano-report/
▶️ 3Speak
Ha yeah until crypto goes 100x and all of a sudden they have millions.
Gonna get pretty intense.
Right when crypto poses the biggest threat to legacy systems will be exactly when congress won't want to stomp on the movement. Of course they will attack all the centralized garbage that they didn't buy. The "competition". More power to them.
I agree that this is good news. If crypto turns out to be the best investment vehicle, other senators or congressmen would buy it as well. In a way, they are always looking out for their interests so they will definitely work in a way that won't give us the worst case scenario.
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Senators? Congressmen? They are so rich that they could easily buy most of the supply of the majority of the altcoins. They have it, they control it. Just like fiat money. But this is the worst case scenario. Hopefully it will not happen.
I still don't think the Senators and Congressmen have that much funds. It's nowhere near what a Blackrock or a hedgefund can. So I think it's more about what types of laws they want to create.
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This is funny! Just thinking, isn't this "regulation" thing just a front to frighten people away from cryptocurrency? And then once they already position themselves, they will inform the public that everything is fine with crypto and people have nothing to worry. Just my wild speculation!