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US Representative Mike Collins, known for his investments in various altcoins, has now invested in a memecoin called ‘Ski Mask Dog.
As the popularity of cryptocurrencies continues to grow rapidly in the US, their adoption is also becoming more common among high-ranking officials.
According to financial reports, Republican member of the US House of Representatives, Mike Collins, made two separate investments in Ski Mask Dog on December 1 and 2. Each transaction ranged between $1,000 and $15,000.
Collins also purchased another altcoin called Aerodrome (AERO) in addition to Ski Mask Dog.
Last year, he diversified his cryptocurrency portfolio with investments in altcoins such as Ethereum (ETH), The Graph (GRT), and Velodrome (VELO).
Following these reports, Ski Mask Dog (SKI) surged by 125% in the last 24 hours and is now trading at $0.23.
Mike Collins’ Interest in Memecoins Is Not New!
Collins‘ interest in memecoins is not an isolated case. This trend marks a departure from the more traditional crypto investments typically associated with institutional or high-profile investors, who often focus on mainstream digital assets like Bitcoin or Ether.
Last year, Collins demonstrated a broader interest in digital assets by purchasing over $65,000 worth of Ether, $115,000 worth of Aerodrome, and smaller investments of $15,000 each in The Graph (GRT) and Velodrome (VELO). Representing Georgia’s 10th Congressional District, Collins secured re-election by defeating his Democratic opponent Lexy Doherty with 63.1% of the vote.
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