Bitcoin News Today: Trump Ally Gill Defies Crypto Slide, Adds $300K to Bitcoin Bet

Congressman Brandon Gill (R-Texas), a prominent ally of U.S. President Donald Trump, has added $300,000 to his Bitcoin and cryptocurrency ETF holdings amid a broader crypto market slump, according to recent congressional disclosures. The purchases, which include between $100,000 and $250,000 in Bitcoin and $15,001–$50,000 in BlackRock's iShares Bitcoin Trust ETF (IBIT), bring his total Bitcoin investments to roughly $2.6 million since taking office in January. The moves underscore Gill's vocal support for digital assets, even as Bitcoin has fallen nearly 27% from its October record high of $126,251, trading at around $92,140 as of November 18.

The congressman's latest transactions occurred against a backdrop of waning institutional enthusiasm and macroeconomic uncertainty. Bitcoin's price has been pressured by a combination of profit-taking, macroeconomic jitters, and a cooling of risk-on sentiment following Trump's unexpected tariff comments, which triggered global market volatility. The cryptocurrency briefly dipped below $95,000 in late October and has since failed to regain momentum, with analysts noting a "risk-off" market environment according to Bloomberg. Meanwhile, spot Bitcoin ETFs-including BlackRock's IBIT, which manages $74 billion in assets-have seen $1.9 billion in outflows over four consecutive days, reflecting broader investor caution according to Yahoo Finance.

Gill's investment pattern reveals a consistent strategy of accumulating Bitcoin during market dips. He previously added $1.5 million in BTC through three installments in late June and July, including a $1 million purchase on June 20, when Bitcoin traded below $100,000. Earlier in the year, he acquired $850,000 in Bitcoin across four transactions starting in late January. However, his disclosures have drawn scrutiny from transparency advocates. OpenSecrets reported that Gill missed reporting $500,000 in Bitcoin purchases within the 45-day window mandated by the STOCK Act, a law designed to prevent insider trading by requiring timely disclosures. While violations carry a nominal $200 fine, ethics committees often waive it, raising questions about accountability.

Gill's crypto advocacy aligns with the Trump administration's pro-digital-asset policies. His January purchases followed Trump's executive order to reduce crypto regulations, and his February acquisition coincided with the president's announcement of a "strategic Bitcoin reserve" initiative according to reports. The congressman has also invested $150,000 in IBIT this year, joining other GOP lawmakers like Marjorie Taylor Greene (R-Ga.), who added $60,000 in the ETF. By contrast, some colleagues, such as Rep. Guy Reschenthaler (R-Pa.), have sold Bitcoin, XRP, and Solana holdings according to Decrypt.

Market analysts remain divided on Bitcoin's near-term outlook. The cryptocurrency's approach to a "death cross"-where its 50-day moving average dips below the 200-day average-has historically signaled bearish momentum. However, past death crosses have also marked market bottoms, offering cautious optimism for long-term investors according to CoinDesk. For now, Gill's continued buying suggests he sees value in Bitcoin's volatility, even as broader market conditions test the resilience of the digital-asset ecosystem.