Republican Rep. Mike Collins, who just won re-election in Georgia’s 10th Congressional District, has admitted to some heavy crypto spending: the stash of Ethereum he claims (and even calls his ‘baby’) weighs nearly $80,000, says Quiver Quantitative.
The platform tweeted out the information Nov. 8 through its post on X.He also put money behind Ethereum, as well as Aerodrome (AERO), an automated market maker and decentralized exchange that serves as a core liquidity hub in Base, Coinbase’s layer 2 network on Ethereum.
Ethereum Surges Post-Trump Win as Pro-Crypto Shift Grows in Congress
Following former President Donald Trump’s decisive election win, which blew cryptocurrency prices, Collins’ Ethereum buy takes place shortly. Bitcoin hit a new record above $76,000 while Ethereum reached $2,957 on Nov. 8. Despite this rise ETH is still approximately 40% below its all time high of north of $4,800 back in May 2022, and has not recovered from its peak from the first quarter of this year of above $4,000.
As more pro-crypto candidates take office, a growing number of U.S. lawmakers have gone public with their holdings of cryptocurrency, a sign of a possible changing of the guard at Congress.
Overall sentiment in the U.S crypto sector is optimistic given a more supportive regulatory atmosphere after a long period of very aggressive enforcement by SEC Chair Gary Gensler. Part of his administration’s strategy aimed at relaxing crypto regulations, Trump has committed to kicking Gensler out of office.
