The 2024 U.S. presidential election marked a historic shift as crypto became a key campaign battleground. Donald Trump’s early endorsement of digital assets gave him a clear edge, earning massive support from the crypto community and ultimately propelling him to a second term. Meanwhile, Democratic candidate Kamala Harris made last-minute efforts to align with pro-crypto sentiments, but it was too little, too late.
Now, with Trump back in power, the intersection of crypto and politics is more prominent than ever.
According to U.S. Senate Financial Disclosure data, Senator Dave McCormick of Pennsylvania—formerly the CEO of Bridgewater Associates—is the largest Bitcoin investor in Congress.
In total, he has invested over $1 million in the Bitwise Spot Bitcoin ETF, with significant purchases in both February and March 2025. One notable investment of $65,000–$150,000 came just days before Trump announced plans to establish a Strategic Bitcoin Reserve.
The timing raised eyebrows and sparked conversations about whether McCormick had early insight into the administration’s crypto strategy.
The Bitwise Spot Bitcoin ETF is quickly becoming a major player in the crypto space. It’s currently trading at $50.96, with a daily trading volume of nearly $58 million. With assets under management now at $3.65 billion, it’s the sixth-largest Bitcoin ETF in the U.S.
For McCormick, investing in crypto wasn’t just about building wealth — it was a calculated political move. His outspoken support for Bitcoin earned him endorsements from top industry figures, including Coinbase CEO Brian Armstrong
In a Senate hearing held in February, McCormick made his position clear: 2025, he said, will be the year digital assets take center stage.
He argued that blockchain technology could boost national innovation, strengthen security, and drive economic growth — a message that resonated with both voters and tech leaders. His remarks signaled that crypto policy is no longer on the sidelines, but part of a larger national agenda.
McCormick isn’t the only one going bullish on Bitcoin. Representative Marjorie Taylor Greene also revealed investments in the iShares Bitcoin Trust ETF. Senator Steve Daines had previously held positions in several crypto-related ETFs as well, though he has since sold them.
Together, these moves show that more lawmakers are treating digital assets not just as a trend, but as part of their broader political and financial strategies.
Trump’s early support gave crypto a powerful platform, and with key players like McCormick helping to drive legislation and public conversation, crypto is firmly planted in the mainstream.
McCormick believes digital assets are the future of innovation and the U.S. economy. His investment reflects strong confidence in Bitcoin’s long-term value, especially amid growing political support.
Trump’s early and vocal support for the crypto industry earned him overwhelming backing from the digital asset community, giving him a crucial edge in a closely contested race.
Expect a more favorable environment for crypto innovation—reduced regulatory pressure, strategic reserves like Bitcoin holdings, and increased institutional adoption encouraged by pro-crypto policies.
While not publicly confirmed, it’s likely a mix of profit-taking and precaution ahead of shifting regulatory scrutiny during the transition period before Trump’s win.
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