Trump’s Crypto Czar David Sacks Reveals US Government Missed Out On Gains Of Over $17 Billion By Selling Bitcoin Early
David Sacks, the White House’s “Crypto Czar,” highlighted a significant financial oversight by the U.S. government that cost it billions in gains.
What Happened: The Department of Justice (DOJ) could have secured over $17 billion had it retained its Bitcoin (CRYPTO: BTC) holdings instead of selling them prematurely, Sacks said.
The DOJ had sold approximately 195,000 Bitcoin for $366 million, a mere fraction of its current valuation.
“If the government had held the bitcoin, it would be worth over $17 billion today. That’s how much it has cost American taxpayers not to have a long-term strategy,” Sacks said.
Sacks, who previously served as PayPal COO and is a well-known venture capitalist, underscored the financial repercussions for taxpayers due to the absence of a long-term strategy.
Presently, the federal government possesses Bitcoin valued at …
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