Two Australian State Politicians Reveal Bitcoin Holdings.

Two sitting ministers from the legislature of the Australian state of Queensland have revealed that they privately own bitcoin. The declarations have been made for the state’s register of members’ interests which lists information including the properties, trusts, and union memberships of Queensland’s politicians.

The updating of the register of Queensland’s politicians’ interests has revealed that two of the state’s representatives currently own bitcoin. The register discloses the formal political affiliations of the state’s politicians, in addition to revealing major assets and investments owned by Queensland’s representatives.

Nick Dametto, a recently elected MP for Katter’s Australian Party a right-leaning minority party that seeks to serve Queensland’s vast rural population has discussed his bitcoin holdings with Fairfax Media.

Mr. Dametto first purchased bitcoin in October 2017, which quickly grew in value. “I then used my bitcoin to buy a couple of different other coins that are worth a lot less, and then they went up a little bit, and at one point my $5,000 investment went up to $60,000, then it crashed after Christmas,” Mr. Dametto said.

Mr. Dametto estimates that his bitcoin holdings are currently “worth about $20,000 Australia (approximately $15,400 USD),” concluding that he is pleased his investment despite the bitcoin market no longer being “at the heights it was before.” Mr. Dametto adds that he is “about as much into bitcoin as I am into skydiving. And I’m not into skydiving.”

Bart Mellish of the Australian labor party also declared that he possesses bitcoin.

Since losing his seat in November 2017, former independent MP, Rob Pyne, has sought to cash in on the rise of cryptocurrency including changing the name of his Facebook page to “Roby Pyne: Cryptocurrency Guru.”

In recent years, reform of Australia’s tax regime surrounding cryptocurrency has helped propel bitcoin toward the mainstream. Earlier this month, it was announced that 1,200 Australian newsagents will facilitate fast and simple purchases of BTC or ETH.


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Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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