On Friday, Rep. Sheri Biggs (R-SC) revealed her acquisition of up to $250,000 worth of shares in BlackRock’s spotBitcoinETF (IBIT) last month, underscoring the conservative House member’s continued investment in the premier digital asset by market capitalization.
Unusual Whalesdata indicates that the actual purchase could have been as low as $100,000, given U.S. lawmakers are only required to disclose trade values within a broad range. Concurrently with her Bitcoin ETF investment, Biggs also acquired shares in a private credit fund managed by Apollo, while selling off a similar offering from Oaktree, an Apollo competitor.
The transaction on March 4 occurred shortly after the outbreak of hostilities between the U.S. and Iran. At that time, Bitcoin’s value dipped to as low as $67,800 according to CoinGecko, but it has since appreciated by approximately 14%.
Investments in digital assets among U.S. lawmakers have become increasingly common, from meme coins to holdings in Square (now known as Block) (MSTR), a major Bitcoin purchaser. The last politician to publicly disclose an investment in BlackRock’s spot Bitcoin ETF was former Rep. Marjorie Taylor Greene (R-GA) in November, with her stake valued between $1,000 and $15,000.
Despite not mentioning digital assets on her official congressional webpage, Biggs is recognized by the Stand With Crypto Alliance as a staunch supporter of cryptocurrencies. The advocacy group highlights her support for three pro-crypto House bills: the CLARITY Act, the GENIUS Act, and H.J. Res 25, which nullified certain tax reporting requirements for decentralized finance projects.
Elected to represent South Carolina’s 3rd Congressional District in January, Biggs reportedly violated the Stock Act last year according to an analysis by NOTUS. The report suggested she failed to disclose more than 170 trades involving her and her husband within a 45-day period, including a $250,000 investment in BlackRock’s spot Bitcoin ETF from July.
Biggs’ latest purchase of IBIT shares on March 4 implied she was at the limit of the legal timeframe for disclosing trade details. Decrypthas attempted to obtain comments from Biggs’ office.