Senator and former Bridgewater CEO McCormick increases Bitcoin holdings as bill develops
Dave McCormick, a former hedge fund manager and now a U.S. Senator from Pennsylvania, is currently the top BTC investor in Congress.
Jesse Hamilton | Edited by Aoyon Ashraf on April 24, 2025, 7:24 PM
Key points:
- Sen. Dave McCormick has invested nearly $1 million of his own money in Bitcoin this year as his committee prepares to debate cryptocurrency legislation.
- McCormick's financial reports show ongoing investments in the Bitwise Bitcoin ETF.
U.S. Senator Dave McCormick, former head of hedge fund giant Bridgewater Associates, is pouring his money into Bitcoin (BTC) as his committee moves into a legislative push to regulate the digital asset sector.
McCormick has again invested hundreds of thousands of dollars in the Bitwise Bitcoin ETF this month, according to newly released data. Because of the ranges in similar reports to lawmakers, the latest amounts invested last month can only be estimated at between $310,000 and $700,000.
The new investment follows McCormick’s previously disclosed $450,000 investment in the Bitwise ETF in February, likely putting his total investment close to $1 million. The investment represents a significant portion of all Bitcoin investments in Congress this year. Representative Marjorie Taylor Greene, a Georgia Republican, has invested a much smaller amount, choosing BlackRock’s iShares Bitcoin Trust (IBIT).
The Pennsylvania Republican senator, who has held several high-level government positions during his career, is a newcomer to the Senate and has been appointed to the Senate Banking Committee's subcommittee on digital assets. This group of lawmakers will likely be closest to the upcoming cryptocurrency legislation expected this year.
While running for the Senate last year, the former hedge fund boss argued that America must lead the way in cryptocurrency. He told the House Subcommittee on Digital Assets’ first hearing in February: “This Congress must work with President Trump to develop bipartisan digital asset legislation that will guide the future of innovation and ensure a strong economic future for the United States.”
Disclosures show that while his Bitcoin holdings are significantly larger than those of other lawmakers, he has directed most of his investments into municipal bonds in recent months.
Read more: Congress's Most Active Crypto Trader Is a Georgia Trucking Operator
