Bitcoin News Update: Trump Supporter Gill Increases Bitcoin Investment by $300K Despite Crypto Downturn
- Rep. Brandon Gill (R-Texas) added $300K to Bitcoin and BlackRock's IBIT ETF, totaling $2.6M in crypto investments amid market declines. - His strategy involves buying during dips, including $1.5M in BTC purchases below $100,000 in June-July 2024. - Gill missed reporting $500K in Bitcoin buys under the STOCK Act, raising transparency concerns despite nominal $200 fine penalties. - The purchases align with Trump's pro-crypto policies, including a "strategic Bitcoin reserve" initiative and reduced regulatio
Texas Representative Brandon Gill, a well-known supporter of President Donald Trump, has
Gill’s most recent purchases took place as institutional interest waned and economic uncertainty grew. Bitcoin’s value has been under pressure due to profit-taking, economic concerns, and a shift away from riskier assets after Trump’s unexpected tariff statements, which
Gill’s stance on cryptocurrency is in line with the Trump administration’s favorable approach to digital assets. His January investments came after Trump issued an executive order to ease crypto regulations, and his February purchase coincided with the president’s launch of a “strategic Bitcoin reserve” plan
Experts remain split on Bitcoin’s short-term prospects. The cryptocurrency is nearing a “death cross,” where the 50-day moving average falls below the 200-day average—
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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