U.S. Representative Michael Collins has expanded his crypto portfolio again, making a fresh Ethereum purchase amid the latest price drop.
According to a recent financial disclosure picked up by Unusual Whales, Rep. Collins acquired between $1,000 and $15,000 worth of Ethereum (ETH) and invested an additional $30,000 in Virtuals Protocol (VIRTUAL). The accumulation comes on the back of a broader market collapse, with ETH losing the $3,000 mark.
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. pic.twitter.com/qQMEUzxRtm
— unusual_whales (@unusual_whales) February 4, 2025
Interestingly, this recent move comes shortly after the U.S. lawmaker offloaded his previous VIRTUAL holdings. Notably, following a past VIRTUAL purchase, the token’s value plunged by an estimated 38%, triggering what could be considered a panic sale.
As the market stabilized, Collins has procured another batch of VIRTUAL, seizing the opportunity to scoop up more ETH along the way. The latest purchases are part of Collins’ engagement with the crypto market, with multiple transactions over the past year.
A History of Crypto Investments
Particularly, Collins has been actively investing in crypto assets since early 2024. His Ethereum purchases began in January 2024 when he acquired ETH on two separate occasions, Jan. 3 and Jan. 8, totaling about $65,000. Later in October 2024, he resumed buying Ethereum.
Beyond Ethereum, Collins has diversified his portfolio with various crypto assets. On July 6, 2024, he purchased Aerodrome Finance (AERO) when its price was around $0.519. His investment paid off as AERO surged nearly 50% to $0.7719. Collins made another purchase on Nov. 3, 2024.
Further, on June 24, 2024, he sold an unspecified amount of Velodrome (VELO) at $0.097 per token, with the transaction valued between $1,000 and $15,000. Meanwhile, his purchase of The Graph (GRT), a decentralized indexing protocol, was worth about $15,000.
WLFI Scooping up Ethereum
While Collins continues accumulating Ethereum, the Trump-inspired World Liberty Financial (WLFI) project has also shown interest in ETH. The firm recently unstaked 19,423 ETH and followed up by acquiring an additional 1,826 ETH.
Notably, amid these large transactions, Eric Trump, son of President Donald Trump, has publicly encouraged investors to buy Ethereum. He has emphasized that the current dip below $3,000 presents an ideal buying opportunity for long-term holders.
Pro-Crypto Trump Administration Fuels Lawmaker Interest
Meanwhile, Collins is not the only U.S. lawmaker delving into crypto investments. More politicians are showing interest in crypto assets as the pro-crypto Trump administration takes office.
The president has made important changes in leadership at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Last December, U.S. Rep. Guy Reschenthaler bought XRP worth $1,000 to $15,000, making him the first sitting lawmaker to disclose an investment in XRP.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
