Bitcoin Hit the $55,000 Level Earlier This Week
Bitcoin was trading 2.33% lower on Saturday morning.
According to Coindesk, the price was around $54,580 per coin, while rivals Ethereum and Dogecoin, were trading around $3,576 (-1.93) and 24.4 cents (-1.02%) per coin, respectively.
U.S. Sen. Cynthia Lumis, R-Vy., has been a longtime fan of bitcoin, and a disclosure filed on Thursday shows she grabbed $100,000 worth of the cryptocurrency in transactions over the summer.
China proposes to add cryptocurrency mining to ‘negative list’ of industries
The filing indicates that Loomis purchased somewhere between $50,001 and $100,000 from bitcoin exchange River Financial on August 18, when the digital currency was around $45,000 per coin, while bitcoin is now trading at $54,760.
The New York Post noted that Lumis’ August bitcoin purchase came less than two weeks after he joined two other senators in an effort to incorporate amendments to an infrastructure bill seen as favorable to the crypto sector. But an attempt to narrow down the definition of who is a cryptocurrency broker was not involved.
Loomis has made no secret of his interest in framing the pro-crypto legislation.
In other cryptocurrency news, the Securities and Exchange Commission regulators have the OK’d Volt Crypto Industry Revolution and Tech ETF, which will trade under the ticker symbol BTCR.
According to the agency, Volt Equity’s exchange-traded fund is the first of its kind, giving investors access to companies with significant exposure to bitcoin.
The fund, which cannot invest directly in bitcoin, will put at least 80% of its net assets into “bitcoin industry revolution companies,” defined as those that invest most of their money in the world’s largest cryptocurrency. Have or receive net assets. of their revenue or profits directly from bitcoin mining, lending or transactions.