American Politician Engages in Highly Questionable Cryptocurrency Transaction

American legislators typically invest in familiar stocks and cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH). However, breaking the mold, Representative Mike Collins disclosed a significant investment on July 11 in a lesser-known digital currency named Aerodrome Finance (AERO), valued at $50,000.

Remarkably, AERO’s value has escalated by nearly 50% post-purchase, soaring from $0.5219 to $0.9316 within a span of just around two weeks.

Since this strategic purchase, Collins has observed an increase in his AERO investment’s worth to $88,000, equating to an impressive profit of approximately $38,000 in under a fortnight.

AERO, with a market capitalization under $500 million and not ranking in the top 200 cryptocurrencies, experienced a notable leap in market value, doubling from $272 million to $492 million, as of the latest data.

Other Cryptocurrency Ventures by Collins Haven’t Been as Profitable

As recently as May 17, Collins ventured $15,000 into a crypto known as Velodrome Finance (VELO), only to offload it a month later on June 24 at a shortfall.

VELO’s value dipped from $0.138 to $0.10 by the time of Collins’ divestment, depreciating his position to about $10,870. Yet, VELO did witness a 55.53% hike over the subsequent week, now trading at $0.1055.

Intriguingly, VELO and AERO stem from the same development team, suggesting a potential correlation in their market performances, potentially in a staggered fashion.

Collins’ Enthusiasm for Digital Currencies

Apart from his recent small-cap crypto pursuits, Collins has declared multiple Ethereum procurements around the turn of the year totaling $60,000 in value.

While the outcomes of these trades remain undisclosed, the value gain in Ethereum—purchased at roughly $2,800 and now at about $3,481—has given Collins a gain near $74,642.

His trading history indicates Collins as one of the few political figures engaging in cryptocurrency trades, possibly signaling a growing trend of U.S. political involvement in the crypto space.

Disclaimer: The information presented herein is not to be taken as financial advisement. Investment activities inherently contain risk, and there is always the possibility of losing capital when investing.