Members of Congress have been actively buying up Bitcoin (CRYPTO: BTC) and Bitcoin ETFs over the last 12 months. Many of the purchasers are allies of President Donald Trump and serve on financial committees, which could be a conflict of interest.
Congressman Buys Bitcoin
Congressman Byron Donalds (R-Fla.) recently disclosed buying $50,000 to $100,000 in Bitcoin, as reported by the Benzinga Government Trades page.
The purchase came alongside Donald disclosing the sale of shares of Abbott Laboratories (NYSE:ABT) and the purchase of shares of Comfort Systems (NYSE:FIX).
This marks the first purchase of Bitcoin by Donalds. Bitcoin traded between $84,436.31 to $89,412.66 on Dec. 18 and currently trades at $90,268.43, marking a gain for Donalds in the short time since he made the trade.
Donalds is a close ally of Trump. The president has signaled support for cryptocurrency and made several executive orders related to cryptocurrency since taking office.
The congressman is running to be the next governor of Florida in the 2026 election and has the support of Trump in the race.
Committee Assignments Spark Conflict
Donalds currently serves on the Committee on Financial Services and on the Digital Assets, Financial Technology and Artificial Intelligence subcommittee.
Other members of these committees have purchased Bitcoin or Bitcoin ETFs over the past year, which has sparked concerns of potential conflicts of interest.
There are several pending pieces of legislation for Congress related to cryptocurrency. As a member of certain committees, members could have first-hand knowledge of the progress of legislation and timeline of any potential approvals or delays.
As a close ally of Trump and a member of the Digital Assets committee, the purchase of Bitcoin by Donalds could spark concerns from investors and/or mark a potential good entry point that deserves monitoring.
Bitcoin soared to new all-time highs of $126,198.07 in October 2025, but have fallen since then. Bitcoin is down 16.8% in the last six months and down 4.5% over the last year.
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