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Rep. Sheri Biggs (R-SC) disclosed on Friday that she purchased between $100,000 and $250,000 worth of BlackRock’s spot Bitcoin ETF (IBIT) last month, according to Unusual Whales data. The range reflects the broad disclosure requirements for U.S. lawmakers’ trades.
Biggs’ IBIT purchase was made on March 4, a few days after the U.S.-Israel war with Iran broke out. At the time, Bitcoin was valued as low as $67,800, according to CoinGecko. Since that nadir, Bitcoin has risen by about 14%.
Unusual Whales data indicated the purchase could have been as low as $100,000, given that lawmakers are required to disclose trade values only within set ranges.
Around the same period, Biggs also purchased shares in a private credit fund offered by asset manager Apollo. In a separate transaction, she sold a similar product offered by Apollo competitor Oaktree.
Over time, investments tied to digital assets have become more common among U.S. lawmakers, including holdings in companies such as Strategy (MSTR), which is associated with Bitcoin exposure.
Former Rep. Marjorie Taylor Greene (R-GA) was the last politician to disclose a purchase of BlackRock’s spot Bitcoin ETF last November, with a reported value between $1,000 and $15,000.
Although Biggs’ official congressional homepage contains no explicit language about digital assets, she is described by the Stand With Crypto Alliance—an advocacy group launched by Coinbase—as someone who “strongly supports crypto.” The group says she has voted for three pro-crypto bills in the House: the CLARITY Act, the GENIUS Act, and H.J. Res 25.
H.J. Res 25, enacted last year, nullified tax reporting requirements for decentralized finance projects, which some lawmakers have characterized as “burdensome.”
Biggs previously appeared to violate the Stop Trading on Congressional Knowledge Act (Stock Act), according to an analysis by NOTUS. The publication reported last October that Biggs apparently missed a 45-day deadline while disclosing more than 170 trades made by her and her husband, including another investment in BlackRock’s spot Bitcoin ETF of up to $250,000 last July.
The timing of Biggs’ latest IBIT purchase on March 4 suggested she had one day left under the law to make the trade’s details publicly available.
Decrypt said it reached out to Biggs’ office for comment.
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