U.S. politicians usually buy stocks and cryptocurrencies they are accustomed to, such as Bitcoin (BTC) and Ethereum (ETH). However, Representative Mike Collins is an exception, as on July 11, Collins reported a purchase of cryptocurrency called Aerodrome Finance (AERO) worth $50,000.
What is impressive is that since his purchase on July 6, AERO has surged by almost 50% from $0.5219 to $0.9316 in less than two weeks.
AERO 7-day price chart. Source: CoinMarketCap
Collins has already earned approximately $38,000 in less than two weeks, as his AERO holding is now worth $88,000.
VELO 1-year price chart. Source: CoinMarketCap
Interestingly, this cryptocurrency shares the same development team as AERO based on VELO. This means their price performances could also be connected, albeit with a delay.
Collins is a fan of cryptocurrencies
In addition to the two most recent acquisitions of small-cap cryptos, Collins reported several Ethereum purchases around New Year’s for a total investment of $60,000.
Although the Representative has yet to disclose his sales, he is in profit on his ETH investment by 49%. Collins bought Ethereum at approximately $2,800, while its current price is $3,481.
This investment is currently in profit, for a total profit of approximately $74,642.
Collins is one of the few politicians who has actively traded crypto in the past. His trading activity might be a prelude to U.S. politicians’ further involvement in the cryptocurrency market.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
