Rep. Brandon Gill Discloses Multi-Million Dollar Bitcoin Holdings Amid Trump-Related Moves
Rep. Brandon Gill (R-Texas), a member of the House Budget Committee and a vocal ally of former President Donald Trump, has disclosed significant cryptocurrency holdings according to House transaction reports.
Since January, Gill accumulated up to $2.6 million in Bitcoin (BTC) along with purchases of up to $150,000 in BlackRock's iShares Bitcoin Trust ETF (IBIT) during the year. Notably, on October 20, he bought Bitcoin valued between $100,000 and $250,000. Nine days later, he acquired IBIT shares valued between $15,001 and $50,000.
Earlier in the year, Gill made up to $850,000 in Bitcoin purchases through four installments starting in late January. Beginning in late June, he undertook additional BTC purchases totaling up to $1.5 million in three installments, including up to $1 million purchased on June 20.
However, Gill did not fully comply with the STOCK Act's timely reporting requirements, failing to disclose up to $500,000 of earlier Bitcoin purchases within the mandated 45-day window. Some trades were reported after the deadlines. The STOCK Act mandates timely reporting of lawmakers' securities transactions with typical penalties being a $200 fine which ethics committees often waive.
Gill’s crypto transactions have coincided with moves related to Trump’s administration. For example, a January trade followed an executive order aimed at reducing digital-asset regulation, and a February purchase preceded Trump's March 6 initiative focused on establishing a strategic Bitcoin reserve. May’s purchases were reported on time.
While OpenSecrets notes that cryptocurrency transactions are not inherently more or less ethical than stock transactions, questions about transparency arise given the involvement of the White House and timing of financial activity linked to federal initiatives.
