Trump Congressional Ally Announces Latest Six-Figure Bitcoin Purchase

Rep. Brandon Gill (R-Texas) has added a total of up to $300,000 worth of Bitcoin and shares of the largest exchange-traded BTC fund to his significant holdings in both assets, according to his most recent transaction report filed with the Clerk of the House of Representatives on Nov. 18.

Gill, a former investment banker and close ally of US President Donald Trump, bought between $100,000 and $250,000 worth of Bitcoin on October 20, and nine days later he bought between $15,001 and $50,000 worth of BlackRock’s iShares Bitcoin Trust ETF (IBIT). Periodic announcements of House transactions record a range, not the exact amount, of an investment.

The first-term lawmaker, who serves on the House Budget Committee, is an active buyer of the largest cryptocurrency by market value and has amassed up to $2.6 million in Bitcoin since being sworn in in January, according to House transaction reports. He also bought $150,000 worth of IBIT this year.

Gill’s office did not immediately respond Declutter request for comment.

Bitcoin recently traded at around $92,140, ​​which has held steady over the past 24 hours, although BTC has fallen around 27% since hitting an all-time high above $126,000 last month, according to crypto markets data provider CoinGecko.

BlackRock’s IBIT manages more than $74 billion in assets, more than three times the next largest spot Bitcoin fund, according to data provider CoinGlass.

Gill’s revelations show that he purchased up to $1.5 million worth of Bitcoin in three installments over a three-week period in late June, including an investment worth up to $1 million on June 20. Earlier this year, he bought $850,000 worth of BTC in four installments starting in late January, according to reports.

According to government transparency group OpenSecrets, Gill failed to properly disclose up to $500,000 of previous Bitcoin purchases within the 45-day period required by federal law.

He reported purchasing between $100,001 and $250,000 worth of BTC on January 29 and February 27, but did not disclose the transactions until June 2, after the deadline required under the Stop Trading on Congressional Knowledge (STOCK) Act.

The STOCK Act, passed in 2012, aims to curb insider trading and ensure accountability by requiring timely reporting of lawmakers’ securities transactions, including those involving digital assets. However, violators face only a $200 fine, which Congressional ethics committees regularly waive.

Gill is an outspoken supporter of crypto, and his January trade came days after Trump signed an executive order calling for reduced regulation of digital assets. The February purchase took place just before Trump unveiled a “strategic Bitcoin reserve” initiative on March 6. Gill made two additional Bitcoin purchases in May, which were reported on time.

According to House disclosures, Rep. Marjorie Taylor Greene (R-Georgia) has purchased up to $60,000 of IBIT this year. Earlier this year, Rep. sold Guy Reschenthaler (R-Pennsylvania) positions in Bitcoin, XRP and Solana.

Gill’s other investments include the tech-focused Invesco QQQ Trust ETF, which tracks the tech-focused Nasdaq.

In an email to Decipher, David Meyers, director of communications and marketing for OpenSecrets, wrote that “crypto transactions are no more or less ethical than stock transactions.”

“Members of Congress are required to make both public so that the public can determine whether lawmakers are acting on behalf of their constituents or in their own interests,” he wrote. “However, with the president’s family heavily involved in the crypto industry, there are certainly questions that need to be answered about whether investors are trying to curry favor with the White House.”