Blake Masters Bitcoin Investments Dropped in 2022
Bitcoin evangelist and Republican Senate hopeful Blake Masters has invested millions in a wide variety of cryptocurrencies. But according to recent financial documents seen by The edgeMasters’ own digital investments apparently rose in value during last year’s cryptocurrency crash.
Masters, a protege of billionaire tech investor Peter Thiel, disclosed a dozen different investments in different cryptocurrencies and platforms in a personal finance filing last week. As of August 15, Masters had between $600,000 and $1.2 million in Bitcoin alone, a dramatic decrease from the $1.1 million to $5.2 million he advertised in financial disclosures last year. last. Masters did not disclose any significant profit from his investment in Bitcoin, suggesting a decline in overall value rather than a potential selloff.
Among Masters’ current holdings are investments in Bitcoin, Bitcoin Cash, Ethereum, Filecoin, Litecoin, and Tezos. Filecoin and Tezos were the only cryptocurrencies that Masters reported earning “interest” in the past year, claiming to have earned between $1,001 and $2,500 each.
While some cryptocurrencies have begun to stabilize and recover in value from their June lows, Masters’ own Bitcoin declines are consistent with the broader cryptocurrency price crash over the year. elapsed. Bitcoin is still down 60% from August 2021, while Masters’ second-largest holding, Ethereum, has lost more than half of its market value (Masters’ Ethereum value range of $250,000 to $500,000 has not changed year over year).
The Masters campaign did not confirm whether its assets had lost value, but suggested The edge on Monday that he used his cryptocurrency investments to loan money to his campaign. Masters only reported between $100,001 and $250,000 in loans as part of its annual filing last week. A spokesperson for his campaign did not immediately respond to clarifying questions from The edge.
Masters also disclosed over $300,000 in book royalties from Zero to Onethe guide to Silicon Valley startups that the Trump-backed candidate co-wrote with Thiel in 2014.
Once a candidate officially announces that they are seeking public office, they are required to file public financial statements for each year of their campaign. Although the disclosures do not require specific investment totals, applicants should provide an estimated range for the value of investments in major assets, including digital assets like cryptocurrency.
For Masters, who is running to unseat Sen. Mark Kelly (D) for Arizona, cryptocurrency proliferation and federal adoption have become an important part of his campaign platform. Just before the markets started crashing last fall, The masters tweeted that the US government should “buy a strategic reserve of Bitcoin”, comparing it to “Fort Nakamoto” or “the new Fort Knox”. Masters has also offered NFTs to people who have contributed the maximum $5,800 to his campaign and says his campaign accepts Bitcoin donations.
In May fox business interview with Maria Bartiromo, Masters suggested that Bitcoin’s caving value would only be temporary.
“It’s not like it’s just crypto crashing, is it? Unfortunately, everything falls apart,” Masters said in the interview. “But it’s true, crypto is exceptionally volatile. I always tell people to only get involved, buy bitcoin if you’re ready to buckle up and ride out the storm, because that’s the Far West.