US Representative Brandon Gill, a Republican from Texas and close ally of former President Donald Trump, has expanded his cryptocurrency portfolio with a new investment of up to $300,000 in Bitcoin and shares of BlackRock's iShares Bitcoin Trust ETF (IBIT), according to his latest transaction report filed on November 18 with the House of Representatives clerk.
Gill, who serves on the House Budget Committee, purchased between $100,000 and $250,000 in Bitcoin on October 20, followed by an acquisition of $15,001 to $50,000 in IBIT on October 29. This move comes as Bitcoin experienced a 27% plunge from its record high above $126,000 last month, with the cryptocurrency currently trading around $91,600-$92,140. His disclosures reveal that since taking office in January, Gill has accumulated approximately $2.6 million in Bitcoin holdings, including up to $150,000 in IBIT this year.
However, the government transparency group OpenSecrets raised concerns about Gill's earlier Bitcoin purchases, noting that he failed to report up to $500,000 within the 45-day window mandated by the STOCK Act. For instance, purchases made on January 29 and February 27 were only disclosed on June 2, after the deadline. The STOCK Act, passed in 2012, aims to prevent insider trading by requiring timely reporting of lawmakers' securities transactions, but violations often result in minimal $200 fines that are frequently waived.
Gill's investments align with his vocal support for cryptocurrencies and Trump's pro-crypto policies, including an executive order to reduce digital asset regulations and the announcement of a strategic Bitcoin reserve program. Other lawmakers, such as Rep. Marjorie Taylor Greene, have also invested in IBIT, while Rep. Guy Reschenthaler sold holdings in Bitcoin, XRP, and Solana earlier this year.
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