Michigan U.S. Rep. Shri Thanedar legally embellished his campaign fund by using his congressional campaign committee to invest in Bitcoin over a three-month period this winter.
The payoff: $1.3 million in profit and interest income, the Detroit News reports.
Thanedar, who has for the most part funded his own campaign, invested $3.7 million in cash from his campaign to in a cryptocurrency exchange-traded fund (EDF) called Grayscale Bitcoin ETF (GBTC), the News reports.
Federal campaign laws allow for campaign money to be invested.
