Rep. Sheri Biggs (R‑SC) bought up to $250,000[1] of BlackRock’s spot Bitcoin ETF in March, expanding a position she first opened in July 2023.
The purchase matters because Biggs is pushing a Strategic Bitcoin Reserve bill that would let the U.S. Treasury hold Bitcoin as a sovereign asset. Her personal exposure could shape her advocacy and raises questions about potential conflicts of interest.
Biggs made the trade through a standard brokerage account, a detail disclosed in a filing with the House Committee on Financial Services. The amount is described as one of the largest Bitcoin‑related buys by a sitting member of Congress, underscoring how few lawmakers have taken sizable positions in crypto assets—an em‑dash that highlights the rarity of such moves.
Reports differ on the timing. Decrypt said the purchase occurred “last month,” referring to an April article, while MSN said the dip was bought in March. Both sources agree the trade happened in March 2024, aligning with the filing date.
At the time of the purchase, Bitcoin hovered around $62,000, and BlackRock’s iShares Bitcoin Trust (IBIT) was trading near its net asset value, offering investors a regulated way to own the cryptocurrency. The ETF’s launch in January 2024 sparked a surge of institutional interest, making Biggs’s move a bet on continued market adoption.
Ethics experts said members of Congress must disclose any holdings that could be affected by legislation they sponsor. Biggs’s filing satisfies the House’s financial‑disclosure rules, but observers say the timing will likely draw scrutiny from watchdog groups.
What remains to be seen is whether Biggs’s personal stake will influence the Strategic Bitcoin Reserve bill’s progress. The legislation could set a precedent for how the federal government engages with digital assets, and her investment signals confidence, or a potential conflict, at a pivotal moment for U.S. crypto policy.
**What this means** Biggs’s $250,000 investment highlights a growing crossover between lawmakers and the cryptocurrency market. As Congress debates formalizing a national Bitcoin reserve, her personal exposure may both inform her perspective and invite scrutiny, illustrating the delicate balance between private investment and public policy in the evolving digital‑asset landscape.
“Rep. Sheri Biggs (R‑SC) bought up to $250,000 of BlackRock’s spot Bitcoin ETF in March.”
Biggs’s stake signals a rare instance of a sitting legislator taking a sizable position in a regulated crypto product, potentially influencing policy while attracting ethical scrutiny as the Senate weighs a national Bitcoin reserve.
