US Crypto Czar: "Federal Government Sold 195,000 Bitcoin Over 10 Years...Would Be Worth $17 Billion If Not Sold"
JOON HYOUNG LEE
Summary
- David Sacks reported that the US federal government sold 195,000 Bitcoin over the past 10 years, generating $366 million in revenue.
- He mentioned that if they had held onto the Bitcoin, its current value would exceed $17 billion.
- Sacks pointed out that the absence of a long-term cryptocurrency strategy has cost American taxpayers $17 billion.
David Sacks, the US White House 'Crypto Czar,' directly criticized the previous administration's Bitcoin (BTC) treasury strategy.
On the 6th, Sacks revealed via X, "Over the past 10 years, the US federal government has sold approximately 195,000 bitcoins, generating $366 million in revenue." Sacks added, "If they had held onto these bitcoins, their current value would exceed $17 billion."
Sacks pointed out that previous administrations' cryptocurrency strategies were inadequate. He stated, "Due to the absence of a long-term (cryptocurrency) strategy, American taxpayers have effectively paid a cost of $17 billion."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
