U.S. lawmaker Pat Toomey said that cryptocurrency assets are here to stay and that "a fully distributed portfolio should have some". The lawyer added that he uses 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 in cryptocurrencies. While acknowledging that cryptocurrency assets are part of his distributed portfolio, he concluded that "active commerce would be a big exaggeration."
Coin's lawmakers explained.
Ever since I could add to any savings, I've had a very simple strategy – diversification.
He describes this strategy as he has been "doing alternative things rather than evaluating companies and selecting stocks".
Senator Toomey believes that.
In my opinion, cryptocurrency assets are a unit that can be retained and a fully distributed portfolio should have some.
Last June, Toomey revealed that he had donated Grayscale Investments' bitcoin and ethereum trusts.
The voice of lawmakers tells Marketwatch that cryptocurrencies are just 1 chronicle of Toomey's overall portfolio.
"Ever since lawmaker Toomey first started adding to his savings holdings a few years ago, he has argued that the most effective way to create semi-permanent wealth is to have an extremely decentralized portfolio," she says cautiously.
Noting that "cryptocurrencies have become a meaningful plus category," the voice emphasized that "maintaining a diversified portfolio now means owning some cryptocurrencies."
Senator Toomey went on to explain.
I've been advocating for no fee-based markets, limited government, easier regulation, and lower taxes.
He was also asked whether lawmakers should be able to invest in cryptocurrency assets once they have the power to influence regulation.
Senator Toomey replied, "We have a very in-depth disclosure system. Every transaction should be based. All assets must conform. People will see what members of Congress have done and they will draw their own conclusions."
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