Sunday, July 12, 2020

U.S. Presidential Candidate, Tulsi Gabbard is Holding Ethereum and Litecoin

Tulsi Gabbard, on February 4th, launched her campaign for the 2020 U.S. presidential elections. The congresswoman is also known to have invested in cryptocurrencies in December 2017. Specifically, she had purchased Ethereum and Litecoin which she could still be holding, reports a media outlet on February 5.

Tulsi Gabbard Launches Presidential Campaign in Hawaii

Tulsi Gabbard, one of the few ladies that are contesting in the 2020 U.S. elections recently launched her campaign in Hawaii. Areas of focus which she outlined are criminal justice reform, health care access, and climate change. While these are exciting, cryptocurrency enthusiasts may be more interested in her background in the industry.

For starters, Gabbard’s financial disclosure report released in August 2018 shows that she had purchased Ethereum and Litecoin. Each asset was bought between the range of $1,0001 – $5,000 on December 12, 2017. Therefore, it can be assumed that she is still holding such assets given that the report was released in August.

Purchase for Cryptocurrencies Made at Their All-Time High

An analysis of when the congresswoman bought the virtual currencies shows that it was when they were approaching their all-time high in December. This was when Bitcoin hit the $20,000 mark before dumping to $3,400 which it is currently trading at. Altcoins at that time also spiked significantly due to Bitcoin’s rise and more money circulating in the market.

As at 12 December when the presidential candidate made her purchase, 1 Ethereum was trading around $600 and it spiked to $1400 in January 2018. The same can be said about Litecoin which was valued at $160 and rose to $300 before hitting its all-time high of $360 on December 18, 2017. Given these rates, if Gabbard is still holding these assets, then the losses will be significant because the market has devalued by over a 70% compared to December 2017.

Gabbard and McAffe Have Different Agendas During Campaign

While Gabbard like John McAfee, another presidential candidate may be into cryptocurrencies, their focus for their respective campaigns differs. Gabbard is targeting on key areas of the government that need reforms, while McAfee is all about restoring freedom to the people through the use of cryptocurrencies.

BTCNN on January 31 reported of the programmer’s campaign slogan, which is “Don’t vote McAfee”. He has also stated on his website that he may not really have an idea to matters relating to fiscal policies, education, etc. but his aim is to change people’s mentality and free them from a government that controls what they do and put in their minds.

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