On the 27th of July, the Crypto Whale Twitter account reported that Nancy Pelosi of the US Rep had sold off 50K NVIDIA shares. The sum of shares uploaded amounts to about $9 million. This huge sell-off came in shortly before the highly anticipated Ethereum merge.
In line with US regulations, members of the House of Reps are obliged to partly reveal their stock and crypto holdings within 45 days of purchase. Notably, several congress members have defaulted to this law in the past, leading to penalizations.
Although Nancy Pelosi has not concealed her holdings, the politician’s trading activities in the past have stained her clean sheet. The United States Speaker has been accused of insider trading without being penalized on multiple occasions.
While the purpose of unloading her NVIDIA stock bags was not revealed, several crypto community members have suggested that Pelosi may be willing to accumulate Bitcoin.
Will Pelosi Convert Her NVIDIA Funds to Ethereum?
Ethereum seems to be the most bubbling token in the crypto ecosystem at the moment. The upcoming merge has stirred bullish sentiments in the minds of community members.
As the House of Reps speaker, Nancy Pelosi has been involved in stocks and crypto trading through her marital partner, Paul Pelosi. The couple is known to have a wide range of investment portfolios, and Nancy has never been against Bitcoin or other digital currencies.
Notably, sometime in 2021, the US speaker was called by ten lawmakers to address a crypto provision in infrastructure law. The law was quite favourable for crypto users, and the House of Reps members were urged to review the bill to be implemented in 2023.
Given the stance of Pelosi towards Bitcoin, Ethereum, and other cryptocurrencies, the US politician may consider strategically investing in ETH ahead of the merge. The merge will occur on the 19th of September if plans fall into place. Following the merge, further upgrades on the Ethereum blockchain will be implemented in 2023.
