Rep. Sheri Biggs Doubles Down on Bitcoin, Buys Up to $250K of BlackRock’s ETF

Rep. Sheri Biggs (R-SC) announced Friday that she bought $250,000 worth of BlackRock’s spot Bitcoin ETF (IBIT) last month, marking the conservative House member’s latest bet on the leading digital asset by market cap.

The purchase could have been as little as $100,000, unusual whales data showedbecause US lawmakers are only required to disclose the value of transactions within a broad range.

Around the time she picked up Wall Street’s most popular vehicle for Bitcoin exposure, Biggs bought shares in a private credit fund offered by asset manager Apollo. Meanwhile, the representative was selling a similar product from Apollo competitor Oaktree.

Biggs’ last IBIT purchase took place on March 4, a few days after the US-Israeli war with Iran broke out. At the time, Bitcoin was valued at just $67,800 Coin gecko. Bitcoin’s price has risen about 14% since that low.

Over time, investments related to digital assets have become commonplace among US lawmakers meme coins of shares in Strategy (MSTR), the Bitcoin purchasing giant. Former Rep. Marjorie Taylor Greene (R-GA) was the latest politician to announce a purchase of BlackRock’s spot Bitcoin ETF last November, valued at between $1,000 and $15,000.

While Biggs’ official congressional homepage does not contain language related to digital assets, the representative does viewed as someone who “strongly supports crypto” by the Stand With Crypto Alliance, an advocacy group launched by Coinbase.

The advocacy group says Biggs voted for three pro-crypto bills in the House of Representatives: the CLARITY Act, the GENIUS Act and HJ Res 25, a resolution passed last year that tax return obligations annulled for decentralized finance projects, which some lawmakers consider “onerous.”

The congresswoman, who was sworn in last January to represent South Carolina’s 3rd Congressional District, appears to have previously violated the Stop Trading on Congressional Knowledge Act, or Stock Act, an analysis by NOTUS.

The publication reported last October that Biggs apparently failed to meet the 45-day deadline and disclosed more than 170 trades made by her and her husband, including a new investment in BlackRock’s spot Bitcoin ETF of up to $250,000 last July.

The representative’s last IBIT purchase, made on March 4, indicated that Biggs legally had one day left to make the details of the transaction public.

Declutter has contacted Biggs’ office for comment.