Benzinga | Dec 10, 2021 10:26AM EST

Illinois Congresswoman Invests In Bitcoin, Coinbase

U.S. Rep. Marie Newman, an Illinois Democrat, has added exposure to Bitcoin (CRYPTO: BTC) and major United States cryptocurrency exchange Coinbase Inc. (NASDAQ:COIN) to her portfolio.

What Happened: Newman acquired between $15,001 and $50,000 of the Grayscale Bitcoin Trust (OTC:GBTC) and four different purchases of Coinbase shares for a total of up to $215,000, a financial disclosure report filed with the U.S. House of Representatives on Wednesday reveals.

See Also: IS BITCOIN A GOOD INVESTMENT?

The document is the result of United States laws requiring House of Representatives and Senate members to report any transactions worth over $1,000 within 30 to 45 days. The law establishing those requirements and limitations is the Stop Trading on Congressional Knowledge Act -- or STOCK Act -- passed in 2012 under President Barack Obama.

Bitcoinpoliticians.org reports that six members of the United States Congress are exposed to cryptocurrencies: Sen. Cynthia Lummis of Wyoming, Rep. Michael McCaul of Texas, Rep. Pat Toomey of Pennsylvania, Rep. Barry Moore of Alabama, Rep. Jefferson Van Drew of New Jersey and Rep. Michael Waltz of Florida.

BTC Price Action: Bitcoin is trading at $48,301 Friday, down 0.98% over 24 hours.