US Representative Michael Collins Continues to Buy Crypto, This Time Disclosing $15K ETH and $30k VIRTUAL Purchase

The lawmaker has dabbled in digital assets before. Lately, Collins has been diversifying his investments, showing increased interest in blockchain technology and its potential use cases.

A US legislator has disclosed a recent cryptocurrency investment, generating headlines. Representative Michael Collins reportedly purchased Ethereum (ETH) as its price dipped below $3,000. According to the disclosure, Collins bought ETH for an amount ranging from $1,000 to $15,000.

The lawmaker also made a $30,000 investment in Virtuals Protocol (VIRTUAL), a lesser-known digital asset.

Collins’ decision to acquire Ethereum at a lower price aligns with the common “buy the dip” strategy employed by traders anticipating long-term growth in the asset's value. Others view these dips as unique buying opportunities, especially in the context of macroeconomic concerns and investor caution straining the broader bitcoin market.

However, there are inherent risks involved in such investments. While ETH has shown resilience, there is no guarantee of a quick recovery given the volatility still characteristic of cryptocurrency markets. Collins' latest move in expanding his crypto portfolio begs the question of whether he is simply making a speculative play or if he anticipates something that might not be readily apparent to the average investor.

BREAKING: US Representative Michael Collins has continued to buy crypto currency.

He just disclosed buying $15K in $ETH and $30k in $VIRTUAL.

He sold VIRTUAL 9 days later, after being down an estimated 38%.

He has bought numerous other crypto over the last three months.

An Investment Trend In Cryptocurrencies

The lawmaker’s foray into digital assets is not a first-time venture. Collins has been actively diversifying his investments, showing a keen interest in blockchain technology and its applications. His latest investment in Virtuals Protocol indicates an exploration of emerging alternatives alongside established cryptocurrencies.

🚨 Congressman Michael Collins is Trading Crypto! 🚨

Rep. Michael Collins (GA-10) bought $ETH & $VIRTUALUSD on Jan 3 for $1,001 – $15,000 each – then flipped $VIRTUALUSD days later for the same amount.

Just a casual trade or something more?

The congressman's disclosed crypto trades follow a trend among some government officials and wealthy investors who have been gradually increasing their exposure to digital assets. Despite the uncertainty surrounding cryptocurrency regulations, such actions may suggest a belief in the long-term viability of the industry.

Profit-taking from previous rallies, coupled with broader market declines, caused Ethereum to lose value, dropping to below $3,000 during the reported period. Despite this recent setback, ETH's role in smart contracts and decentralized finance (DeFi) positions it as a major player within the blockchain market.

The success or failure of Collins' investment might hinge on whether Ethereum recovers lost ground during the reported period. In the event that the downturn persists, he stands to incur substantial losses — a scenario all too familiar to cryptocurrency investors.

The actions of Collins highlight the increasing institutional and governmental interest in Ethereum and cryptocurrency as a whole. Some lawmakers openly advocate for tighter regulation, while others quietly enter the sector through personal investments. Whether driven by personal conviction or financial strategy, one thing is clear: crypto remains a hot-button issue in politics and finance alike.

A recent disclosure by a US legislator reveals a personal cryptocurrency investment, sparking interest within the institutional and governmental spheres. Representative Michael Collins reportedly purchased Ethereum (ETH) as its price dipped below $3,000, with the disclosure indicating a purchase ranging from $1,000 to $15,000.

The lawmaker also made a $30,000 investment in Virtuals Protocol (VIRTUAL), a lesser-known digital asset, during the reported period. This move might align with a strategy to diversify his investments, given his prior disclosures of various crypto purchases.

RISKY MOVE: A US representative has disclosed buying $ETH & $VIRTUALUSD on Jan 3 for $1,000 – $15,000 each, then flipping $VIRTUALUSD days later for the same amount. What's next for Congressman Collins in the crypto world?

The legislator's actions come amid a trend among some government officials and wealthy investors who have been gradually increasing their exposure to digital assets. While regulations surrounding crypto remain uncertain, such moves may indicate a belief in the industry's long-term viability.

Chart showing Ethereum's price performance during the reported period, dropping below $3,000. Profit-taking from previous rallies, coupled with broader market declines, caused this decrease.

Ethereum's contributions to smart contracts and decentralized finance (DeFi) help it to maintain a major presence in the blockchain market despite recent setbacks. The success or failure of Collins' investment might hinge on whether ETH recovers lost ground during the reported period. In the event that the downturn persists, he stands to incur substantial losses — a scenario all too familiar to cryptocurrency investors.