Senator McCormick Invests $1 Million in Bitcoin ETF as Trump Unveils Strategic Reserve Plan

The 2024 U.S. presidential election highlighted the growing influence of cryptocurrency within political discourse. Donald Trump’s early endorsement of digital assets propelled his re-election bid, cementing crypto’s place as a key campaign theme. Meanwhile, Democratic candidate Kamala Harris made last-minute efforts to align with pro-crypto sentiments, but it proved insufficient. 2024 ushered in a new era of crypto politics with the return of Trump to power. 2025 saw Senator Dave McCormick become a significant Bitcoin investor, having allocated over $1 million to the Bitwise Spot Bitcoin ETF. Notably, this investment occurred just days before Trump announced plans for a Strategic Bitcoin Reserve, adding intrigue to the timing. McCormick’s pro-crypto stance was instrumental in securing his election victory. The Bitwise ETF currently trades at $50.96 with a 24-hour volume of $57.92 million and ranks as the sixth largest Bitcoin ETF by assets under management (AUM), valued at $3.65 billion. McCormick’s investment reflects his confidence in Bitcoin’s long-term growth potential, supported by a growing political consensus on cryptocurrency’s importance. His optimism was echoed by Coinbase CEO, who publicly endorsed McCormick’s crypto stance during the election, aiding him in securing victory. Other lawmakers have joined the crypto bandwagon, including Rep Marjorie Taylor Greene, and Senator Steve Daines, previously held shares in multiple crypto-related ETFs but subsequently liquidated his positions. This shift towards cryptocurrency is seen as a sign of mainstream acceptance, paving the way for increased regulatory activity around digital assets.