Over the past 10 years, the federal government has sold around 195,000 Bitcoin for $366 million
\nToday, that figure would be worth over $17 billion
\nSacks said the lack of a \u201clong-term strategy\u201d has cost American taxpayers<\/p>\n
White House artificial intelligence (AI) and crypto czar David Sacks has criticized the US federal government\u2019s lack of \u201clong-term strategy\u201d with the sale of confiscated Bitcoin.<\/p>\n
In a post on X<\/a>, Sacks<\/a> wrote:<\/p>\n \u201cOver the past decade, the federal government sold approximately 195,000 Bitcoin for proceeds of $366 million. If the government had held the Bitcoin, it would be worth over $17 billion today. That\u2019s how much it has cost American taxpayers not to have a long-term strategy.\u201d<\/p>\n Over the past decade, the federal government sold approximately 195,000 bitcoin for proceeds of $366 million. If the government had held the bitcoin, it would be worth over $17 billion today. That\u2019s how much it has cost American taxpayers not to have a long-term strategy.<\/p>\n \u2014 David Sacks (@davidsacks47) March 6, 2025<\/a><\/p>\n\n Michael Saylor<\/a>, Strategy\u2019s chairman, responded: \u201cYou do not sell your Bitcoin.\u201d Since 2020, Strategy (formerly MicroStrategy) has been actively purchasing Bitcoin. It currently holds 499,096 Bitcoin, valued at $44.72 billion.<\/p>\n The comment from Sacks comes as the White House gets ready to host its first Crypto Summit.<\/p>\n So far, 20 crypto leaders have been invited to the event, which will take place on March 7. According to Sacks, they decided to keep the numbers down to have a \u201cmeaningful conversation\u201d regarding crypto policies.<\/p>\n An earlier report suggests that US President Donald Trump<\/a> will unveil his plans for a Bitcoin reserve strategy<\/a> during the roundtable. In an interview, US Commerce Secretary Howard Lutnick<\/a> said:<\/p>\n \u201cA Bitcoin strategic reserve<\/a> is something the President\u2019s interested in. He spoke about it all during the campaign trail, and I think you\u2019re going to see it executed on Friday.\u201d<\/p>\n Some of those attending include Vlad Tenev, co-founder and CEO of Robinhood; Arjun Sethi, CEO of Kraken; Brian Armstrong, CEO of Coinbase; Cameron and Tyler Winklevoss, founders of Gemini; and Michael Saylor, executive chair of Strategy.<\/p>\n Members of the Presidential Working Group on Digital Assets will also be in attendance.<\/p>\n In December, Trump announced that Sacks would be the lead policy advisor on artificial intelligence and crypto, dubbing him the \u201cWhite House AI and Crypto Czar<\/a>.\u201d<\/p>\n Trump wrote that Sacks will take up the role which are \u201ctwo areas critical to the future of American competitiveness,\u201d adding, among other things, that \u201che will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the US.\u201d<\/p>\n As part of his role, Trump added that Sacks will focus on making America a \u201cglobal leader\u201d in these areas, something Trump promised<\/a> during his election campaign in August.<\/p>\n The post Trump\u2019s crypto czar says lack of Bitcoin \u201clong-term strategy\u201d has cost taxpayers billions<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Over the past 10 years, the federal government has sold around 195,000 Bitcoin for $366 million Today, that figure would be worth over $17 billion Sacks said the lack of a \u201clong-term strategy\u201d has cost American taxpayers White House artificial intelligence (AI) and crypto czar David Sacks has criticized the US federal government\u2019s lack of […]<\/p>\n","protected":false},"author":0,"featured_media":2637,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-2636","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=2636"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2636\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/2637"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=2636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=2636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=2636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Crypto Summit<\/h2>\n
\u201cCrypto czar\u201d<\/h2>\n