Senator Dave McCormick, a former executive at Bridgewater Associates, has been investing heavily in bitcoin, with recent disclosures revealing investments worth between $310,000 and $700,000 in the Bitwise Bitcoin ETF. This investment follows his previous disclosure of up to $450,000 in the same ETF in February, potentially bringing his total investment to nearly $1 million.
As a member of the Senate Banking Committee's subcommittee on digital assets, McCormick is well-positioned to influence the upcoming crypto legislation. His investments in bitcoin surpass those of other lawmakers, including Representative Marjorie Taylor Greene, who has invested in BlackRock's iShares Bitcoin Trust. McCormick has emphasized the need for the US to lead in crypto innovation, stating that Congress must work with the President to pass bipartisan digital asset legislation. While his bitcoin investments are significant, the majority of his recent investments have been in municipal securities.