Rep. Sheri Biggs (R-SC) has made headlines with her recent financial move, disclosing on Friday that she purchased up to $250,000 worth of BlackRock’s spot Bitcoin ETF (IBIT) last month. This investment reflects her ongoing interest in the cryptocurrency market and is seen as a significant endorsement of digital assets by the conservative House member.
Her new acquisition follows a previous investment made last July, where she also disclosed purchasing up to $250,000 in the same ETF. According to data from Unusual Whales, the actual value of her latest purchase might have been as low as $100,000, since U.S. lawmakers are only obligated to report trades within a specified range.
Biggs’ latest acquisition occurred on March 4, shortly after the escalation of the conflict involving the U.S. and Israel with Iran, amidst a fluctuating Bitcoin market. At the time of her purchase, Bitcoin’s value had recently dipped to around $67,800, but it has since surged approximately 14%.
The increasing interest in digital assets is becoming commonplace among U.S. lawmakers, with prominent figures making investments in everything from meme coins to major Bitcoin-related equities. Former Rep. Marjorie Taylor Greene (R-GA) was the last to disclose a purchase of BlackRock’s spot Bitcoin ETF, valued between $1,000 and $15,000, last November.
Despite a lack of explicit support for digital assets on her official congressional webpage, the Stand With Crypto Alliance—a grassroots group formed by Coinbase—considers Biggs a strong advocate for cryptocurrency. This group highlights her votes in favor of various pro-crypto legislation, including the CLARITY Act, the GENIUS Act, and a resolution last year that eliminated certain tax reporting requirements for decentralized finance projects, which some lawmakers deemed overly burdensome.
Notably, Biggs’ financial activities have come under scrutiny. Reports indicate that she may have violated the Stop Trading on Congressional Knowledge Act, or Stock Act, having failed to disclose timely trades made by her and her husband, including another purchase of BlackRock’s Bitcoin ETF last July. According to findings by NOTUS, she missed a 45-day deadline for these disclosures.
As of now, Biggs’ office has not provided any comment regarding the recent disclosures and the implications of her investment strategies in the cryptocurrency space.
