U.S. politician makes the most suspicious crypto trade ever

U.S. politicians usually buy stocks and cryptocurrencies they are accustomed to, such as Bitcoin (BTC) and Ethereum (ETH). However, Representative Mike Collins is an exception, as on July 11, Collins reported a purchase of cryptocurrency called Aerodrome Finance (AERO) worth $50,000.

What is impressive is that since his purchase on July 6, AERO has surged by almost 50% from $0.5219 to $0.9316 in less than two weeks.

AERO 7-day price chart. Source: CoinMarketCap

Collins has already earned approximately $38,000 in less than two weeks, as his AERO holding is now worth $88,000.

VELO 1-year price chart. Source: CoinMarketCap

Interestingly, this cryptocurrency shares the same development team as AERO based on VELO. This means their price performances could also be connected, albeit with a delay.

Collins is a fan of cryptocurrencies

In addition to the two most recent acquisitions of small-cap cryptos, Collins reported several Ethereum purchases around New Year’s for a total investment of $60,000.

Although the Representative has yet to disclose his sales, he is in profit on his ETH investment by 49%. Collins bought Ethereum at approximately $2,800, while its current price is $3,481.

This investment is currently in profit, for a total profit of approximately $74,642.

Collins is one of the few politicians who has actively traded crypto in the past. His trading activity might be a prelude to U.S. politicians’ further involvement in the cryptocurrency market.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.