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U.S. lawmaker Pat Toomey said that crypto assets are here to stay and that “a fully distributed portfolio should have some.” The lawyer added that he employed a “very simple” investment strategy – diversification.
U.S. lawmakers say cryptocurrencies are here to stay
U.S. lawmaker Pat Toomey spoke about cryptocurrencies on CNBC on Wednesday. The lawmaker was asked if he was actively trading cryptocurrencies. While acknowledging that crypto assets are part of his distributed portfolio, he concluded that “positive business would be a big exaggeration.”
Pennsylvania lawmakers explained:
Since I can accumulate any savings, I have a very simple strategy – diversification.
He described this strategy because he has been “doing alternative things rather than evaluating companies and picking stocks.”
Senator Toomey argued that:
In my opinion, a crypto asset is a unit that can be kept and a fully distributed portfolio should have some.
Last June, Toomey revealed that he had donated to Grayscale Investments’ Bitcoin and Ethereum Trust.
The voice of lawmakers told Marketwatch that crypto is just 1 chronicle of Toomey’s overall portfolio.
“Ever since legislator Toomey first started accumulating savings a few years ago, he has argued that the most efficient way to create semi-permanent wealth is to have an extremely diversified portfolio,” she says warily.
Noting that “cryptocurrency has become a meaningful plus category,” the voice emphasized that “maintaining a diversified portfolio currently means owning some cryptocurrencies.”
Senator Toomey went on to explain:
I’ve been advocating for no fee market, restrictive government, deregulation, lower taxes.
He was also asked whether lawmakers should be able to invest in crypto assets once they have the power to influence regulation.
Senator Toomey replied: “We have a very deep disclosure system. Every transaction should be based. All assets have to comply. People will see what members of Congress do and they will draw their own conclusions.”
post US Legislator: Crypto Assets Worth Mention, Distributed Portfolios Should Have Crypto Exposure first appeared in bitcoin wire.
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