Blake Masters, a Republican Senate candidate and Bitcoin evangelist, has invested millions in a variety of cryptocurrencies. According to The Verge financial filings, Masters’ digital investments seem to have declined in value since the cryptocurrency crash.
Masters, protege of billionaire tech investor Peter Thiel disclosed 12 different investments in different cryptocurrencies and platforms last week in a personal financial filing. Masters had $600,000.00 to $1.2million in Bitcoin as of August 15,. This is a drastic decrease from his $1.1-$5.2 million financial disclosures last fiscal year. Masters didn’t disclose any substantial profits from his Bitcoin investments, which suggests a decrease in overall worth rather than a possible sale.
Masters didn’t disclose any significant profits from Bitcoin investments.
Masters currently holds investments in Bitcoin Cash, Ethereum and Filecoin. Masters claimed that Filecoin and Tezos were both cryptocurrencies in which he had earned ‘interest’ over the past year. They claimed to have made between $1001 and $2,500 for each.
Although some cryptocurrencies have stabilized and gained value since June’s lows, Masters has seen its Bitcoin prices decline in line with the wider crash in cryptocurrency prices. Bitcoin is still below 60% in August 2021. Masters’ second-largest Ethereum holding has lost more than 50% of its market price (Masters’ Ethereum value range, $250,000-$500,000, did not change over the past year).
Masters’ campaign didn’t confirm that his assets had declined in value, but suggested to the Vergeon Monday to use his cryptocurrency investments to lend money to his campaign. Masters reported only between $100,001 to $250,000 in loans last week as part of his annual filing. The Verge reached out to the campaign spokesperson but he did not immediately reply.
Masters also revealed more than $300,000. in book royalties from zero to One. This was the Silicon Valley startup guide that Trump-endorsed candidate coauthored with Thiel in 2014.
After a candidate officially announces their candidacy for public office, they must file public financial disclosures each year. Although the disclosures do not require precise investment amounts, candidates must give an estimate range for significant assets investments including cryptocurrency.
Masters is running to unseat Senator Mark Kelly (D-Arizona). He has made cryptocurrency proliferation and federal adoption a key part of his campaign platform. Masters tweeted just before the market crash and compared it to Fort Nakamoto or Fort Knox. Masters offered NFTs to who contributed at least $5,800 to his campaign. He also claims that his campaign takes Bitcoin donations.
It’s not just crypto that is crashing, Masters said. Masters stated in the interview that everything is going down. But it is true that crypto’s extremely volatile. I tell people not to get involved in crypto. Only buy Bitcoin if they are ready to weather the storm. This is the Wild West.