Two Australian Politicians Revealed Their Bitcoin Holdings

The declarations was made for the state’s register of members’ interests, which includes information such as trusts, the properties, and union memberships of Queensland’s politicians.

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The register’s update of Queensland’s politicians’ interests revealed that two representatives of the state are currently Bitcoin owners.  The register reveals the formal political affiliations of the politicians, disclosing major investments and assets owned by the representatives of Queensland.

Recently elected MP for Katter’s Party (a right-leaning minority party that aims to serve the vast rural population of Queensland), Nick Dametto talked about his Bitcoin holdings with Fairfax Media.

Mr. Dametto first bought Bitcoin in Oct. 2017, which quickly raised in value. Then he used his Bitcoins to purchase some different coins that are worth a lot less. Later these coins went up a little bit as well, and at one point his $5,000 investment raised to $60,000, but it crashed after Christmas.

At the moment, Mr. Dametto estimates that his BTC holdings are worth about $20,000 Australian dollars (about $15,400 USD). He concluded that he is pleased with his investment despite the fact that Bitcoin market is no longer at the heights it was before. Finally, he stated that “he is about as much into Bitcoin as he is into skydiving. And he is not into skydiving.”

Bart Mellish of the Australian labor party declared that he owns Bitcoin as well. In addition, Rob Pyne, who is former independent MP, took advantage of the cryptocurrencies’ rise, after he lost his seat in Nov.2017. He even changed his Facebook page name to “Roby Pyne: Cryptocurrency Guru.”

Bitcoin Moves Toward Mainstream in Australia

Recently, the reform of Australia’s tax regime revolving around cryptocurrency has helped to propel Bitcoin for mainstream adoption in the country. A few weeks earlier, it was announced that 1,200 Australian newsagents are going to facilitate simple and fast purchases of ETH or BTC.

Also read: Bitcoin and Ethereum have grown by 18% this week

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