Bitcoin advocate, US politician Blake Masters is one of the politicians known for investing in cryptocurrencies. However, recent financial reports show that due to the cryptocurrency crisis last year, Masters lost a significant amount of money from his personal altcoin investments.
US politician lost big money from altcoin investments
In this week’s personal finance filing, Masters, mentor to billionaire internet investor Peter Thiel, revealed about a dozen of his investments in different cryptocurrencies and exchanges. As of August 15, the US politician’s total Bitcoin holdings fell sharply from $1.1 million to $5.2 million a year ago. Thus, he reported that as of August 15, he had only $600,000 to $1.2 million in assets. Masters did not announce a large profit from his Bitcoin investment, indicating a drop in market value rather than a possible sale.
Cryptocurrencies that Blake Masters has invested in
Bitcoin, Bitcoin Cash, Ethereum, Filecoin, Litecoin and Tezos are among Masters’ current crypto portfolio. Masters also shared that he has earned between $1,001 and $2,500 in interest from Filecoin and Tezos this year.
The US politician reported huge losses due to the sales in recent months from 5 cryptocurrencies in his portfolio. Masters’ second-largest investment, Ethereum, has lost more than half of its market cap since August 2021. Bitcoin also continues to drop by 60% since then.
“US government should buy a strategic Bitcoin reserve”
The 35-year-old politician has made the adoption of cryptocurrencies in the US an important part of his election campaign. He previously tweeted that the U.S. government should “buy strategic Bitcoin reserves before the markets start to drop.”
China banned cryptocurrency last week.
Let’s do the opposite. The US government should buy a strategic reserve of Bitcoin — Fort Nakamoto, the new Fort Knox.
Related: my U.S. Senate campaign now accepts BTC donations. DM me or write [email protected] for info & to donate.
— Blake Masters (@bgmasters) September 27, 2021
Masters has also started accepting donations in Bitcoin for their campaigns. However, anyone who donated $5,800 offered NFTs. In an interview with Maria Bartiromo, Masters suggested that the Bitcoin crash would only be temporary. In an interview he gave at the time, he said:
It’s not just crypto that’s crashing, is it? Unfortunately everything is crashing. However, the cryptocurrency is indeed extremely volatile. I always urge people to get involved and only buy Bitcoin if they’re prepared for the worst because this is the Wild West.
cryptocoin.comAs you follow, Bitcoin and Ethereum prices are currently trying to offset the decline.
