In a post today, well-known Bitcoin (BTC) advocate Jameson Lopp highlighted that several members of the U.S. Congress have expressed favorable opinions toward Satoshi's creation, but questioned how many actually trust the asset enough to own it.
According to Bitcoin Politicians, a platform run by Lopp that compiles financial disclosures on crypto assets from politicians, only 19 of the 535 members of Congress (3.55%) have direct or indirect investments in bitcoin, altcoins such as ether (ETH) and cardano (ADA), or other crypto-related instruments such as shares of Coinbase and Block.
Among the lawmakers who have invested in cryptocurrencies are Senator Cynthia Lummis and Senator Ted Cruz, both of whom hold Bitcoin. Also included are Representative Shri Thanedar, who owns BTC, ETH, and litecoin (LTC); Representative Lauren Boebert, who holds stakes in Coinbase; and Senator David McCormick, who has investments in Bitcoin ETFs.
It's worth noting that Senator Cynthia Lummis of Wyoming is one of the leading advocates for Bitcoin in Congress. She has actively supported initiatives promoting cryptocurrencies and seeking to integrate BTC into the traditional financial system, including incorporating digital assets into 401(k) retirement plans.
On the other hand, 516 members of Congress (96.45%) do not report owning any cryptocurrency, indicating that verbal support for Bitcoin does not always translate into personal investment. This disparity between pro-BTC rhetoric and actual holdings reflects caution among lawmakers, possibly due to market volatility or ethical considerations regarding conflicts of interest.
However, the renewed interest in cryptocurrencies from both chambers of Congress, especially following Donald Trump's return to the White House, is reflected in recent legislative initiatives, such as the passage of the GENIUS Act to regulate stablecoins. This proposal received broad bipartisan support in both the Senate and the House of Representatives.
The GENIUS Act establishes a clear regulatory framework for stablecoins, requiring them to be fully backed 1:1 by liquid reserves of US dollars. The law's main objective is to preserve the US dollar's dominance in international markets.
Since returning to the presidency, Donald Trump has taken a proactive approach to the ecosystem. His notable actions include signing an executive order authorizing the creation of a strategic bitcoin reserve, eliminating controversial regulations that hindered the sector's development, and explicitly supporting initiatives like the GENIUS Act.
In his own words, the president seeks to position the United States as the cryptocurrency capital of the world . Although these assets are still held by only a few members of the country's congress.
