Ethereum and Litecoin: Congressman Tulsi Gabbard probably lost money on purchases

  Tulsi Gabbard
Rep. Tulsi Gabbard, D-HI., Appoints Senator Bernie Sanders, I-VT., For the President of the United States during the second day of the Democratic National Congress in Philadelphia.
AP / J. Scott Applewhite


Tulsi Gabbard may be the first Congressman to have invested in cryptocurrencies.

According to a financial deposit released Wednesday, the Hawaii Second District Democrat bought between $ 1.001 and $ 15,000 of ethereum and litecoin in December 2017. And while the exact quantities purchased or the dates are unclear, it is highly unlikely the representative made a profit.

Although Gabbard had bought the digital coins in December's lower prices – $ 414 per ethereum and $ 83 per litecoin – it would have been in red since the date of filing of August 14, given the respective prices of the $ coins 278 and $ 54,56 on that day. This is a 33% decline for both cryptocurrencies from the lowest December prices.

The Gabbard office did not respond to a request for comment from Business Insider.

The entire cryptocurrency market has been hit since January, when the craze surrounding the nascent industry was near its peak. The bitcoin flagship has decreased by 52% this year after peaking at $ 19.843 shortly after the new year.

And while the acquisition of Gabbard could be the first by a Congressman sitting down to invest in cryptocurrencies, it is not the first appearance of digital coins at Capitol Hill. A "buy bitcoin" cartel went on Twitter in July 2017, when it appeared after former Federal Reserve Chairman Janet Yellen during her testimony before the House's Financial Services Committee.

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