US Congressman Mike Collins buys ETH worth $80k

Republican Representative Mike Collins from Georgia’s 10th Congressional District has disclosed an investment in Ethereum, valued at nearly $80,000, according to Quiver Quantitative. The platform tracks the trading activity of prominent public figures and shared the details on X (formerly Twitter) on Nov. 8.

In addition to Ethereum, Collins has reportedly purchased $15,000 worth of Aerodrome (AERO), a decentralized exchange and automated market maker. Aerodrome operates as the central liquidity hub for Base, a Layer-2 network on Ethereum launched by Coinbase.

Collins’ disclosure came just days after Donald Trump’s resounding victory in the U.S. elections, which sent cryptocurrency prices soaring. Both Bitcoin and Ethereum surged, with Ethereum reaching a high of $2,957 on Nov. 8. Bitcoin also broke its all-time high, surpassing $76,000.

However, while Bitcoin has surpassed its previous peaks, Ethereum remains nearly 40% below its all-time high of $4,891 in May 2021 and has struggled to regain momentum, with its year-to-date high of $4,000 reached in March still out of reach.

Collins is not the first U.S. lawmaker to disclose cryptocurrency holdings, but his move highlights a growing trend of pro-crypto politicians, especially as crypto’s influence continues to grow on the U.S. legislative landscape. The sentiment towards crypto in the U.S. is also becoming more positive, particularly after a period of regulation-by-enforcement led by the Securities and Exchange Commission (SEC) under Chairman Gary Gensler. Critics argue that Gensler’s crackdown stifled U.S. innovation in the space. Trump has promised to fire Gensler should he take office.