- US Representative Mike Collins invested up to $30,000 in Ski Mask Dog (SKI) memecoin.
- SKI price increased 116% after Collins acknowledged the purchase on social media.
- Collins also invested up to $15,000 in Aerodrome (AERO) token.
- Purchases were disclosed through mandatory Congressional financial reporting.
- Representative has history of cryptocurrency investments including Ether and Velodrome.
A US congressman’s investment in a niche cryptocurrency triggered substantial market movement, as Representative Mike Collins’ purchase of Ski Mask Dog (SKI) led to a 116% price increase within 24 hours.
Congressional Crypto Disclosure
According to official disclosure documents, Collins executed two separate SKI token purchases on December 1 and December 2, 2024. Each transaction ranged between $1,000 and $15,000, potentially totaling up to $30,000. The price of SKI reached $0.2281 following Collins’ social media acknowledgment.
Diversified Digital Asset Portfolio
The Georgia Republican’s cryptocurrency investments extend beyond memecoins:
- Up to $15,000 in Aerodrome (AERO) token
- Previous AERO investment of up to $50,000 in July 2023
- $65,000 in Ether purchases
- Additional holdings in Velodrome token
Regulatory Compliance
The investments were reported under the STOCK Act, which mandates Members of Congress to disclose any investment transactions exceeding $1,000. Collins’ social media response to reports about his purchases included memetic content, which preceded the significant price movement in SKI tokens.
Market Impact
While SKI demonstrated substantial volatility following Collins’ disclosure, his other recent investment, AERO, experienced minimal movement, recording a 0.5% decrease to $1.63 in the same period. The contrasting market reactions highlight the speculative nature of memecoin investments compared to other digital assets.
✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bitcoin ETF Inflows Double to $676M as BlackRock’s Fund Dominates Market
- Trump Taps Crypto-Friendly Paul Atkins as Top Pick for Next SEC Chair
- TRON’s TRX Surges 81% to All-Time High as Old Crypto Projects Stage Comeback
- ‘Bitcoin Jesus’ Ver Seeks Dismissal of $50 Million Tax Evasion Case
- BNB Chain Hit by Record Sandwich Attacks, Over 35% of Blocks Compromised
