{"id":48674,"date":"2025-03-06T23:05:52","date_gmt":"2025-03-06T23:05:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/trumps-crypto-czar-says-lack-of-bitcoin-long-term-strategy-has-cost-taxpayers-billions\/"},"modified":"2025-03-06T23:05:52","modified_gmt":"2025-03-06T23:05:52","slug":"trumps-crypto-czar-says-lack-of-bitcoin-long-term-strategy-has-cost-taxpayers-billions","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/trumps-crypto-czar-says-lack-of-bitcoin-long-term-strategy-has-cost-taxpayers-billions\/","title":{"rendered":"Trump\u2019s crypto czar says lack of Bitcoin \u201clong-term strategy\u201d has cost taxpayers billions"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1690211692924-a5ef1975-5a52-4c9f-bb18-a250be364771-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1690211692924-a5ef1975-5a52-4c9f-bb18-a250be364771-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1690211692924-a5ef1975-5a52-4c9f-bb18-a250be364771-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1690211692924-a5ef1975-5a52-4c9f-bb18-a250be364771-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li aria-level=\"1\">Over the past 10 years, the federal government has sold around 195,000 Bitcoin for $366 million<\/li>\n<li aria-level=\"1\">Today, that figure would be worth over $17 billion<\/li>\n<li aria-level=\"1\">Sacks said the lack of a \u201clong-term strategy\u201d has cost American taxpayers<\/li>\n<\/ul>\n<p>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<p>In a post on <a href=\"https:\/\/x.com\/davidsacks47\/status\/1897640660338925938?s=19\" target=\"_blank\" rel=\"noopener\">X<\/a>, <a href=\"https:\/\/coinjournal.net\/search\/David+Sacks\">Sacks<\/a> wrote:<\/p>\n<p>\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<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">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<p>\u2014 David Sacks (@davidsacks47) <a href=\"https:\/\/twitter.com\/davidsacks47\/status\/1897640660338925938?ref_src=twsrc%5Etfw\">March 6, 2025<\/a><\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/coinjournal.net\/search\/Michael+Saylor\">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<h2>Crypto Summit<\/h2>\n<p>The comment from Sacks comes as the White House gets ready to host its first Crypto Summit.<\/p>\n<p>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<p>An earlier report suggests that US President <a href=\"https:\/\/coinjournal.net\/search\/Donald+Trump\">Donald Trump<\/a> will <a href=\"https:\/\/coinjournal.net\/news\/report-trump-expected-to-announce-bitcoin-reserve-strategy-at-white-house-crypto-summit\/\">unveil his plans for a Bitcoin reserve strategy<\/a> during the roundtable. In an interview, US Commerce Secretary <a href=\"https:\/\/coinjournal.net\/search\/Howard+Lutnick\">Howard Lutnick<\/a> said:<\/p>\n<p>\u201cA Bitcoin <a href=\"https:\/\/coinjournal.net\/news\/trump-announces-cryptos-to-be-added-to-us-strategic-crypto-reserve\/\">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<p>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<p>Members of the Presidential Working Group on Digital Assets will also be in attendance.<\/p>\n<h2>\u201cCrypto czar\u201d<\/h2>\n<p>In December, Trump announced that Sacks would be the lead policy advisor on artificial intelligence and crypto, dubbing him the \u201c<a href=\"https:\/\/coinjournal.net\/news\/donald-trump-names-david-sacks-as-ai-and-crypto-czar\/\">White House AI and Crypto Czar<\/a>.\u201d<\/p>\n<p>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<p>As part of his role, Trump added that Sacks will focus on making America a \u201cglobal leader\u201d in these areas, something <a href=\"https:\/\/coinjournal.net\/news\/donald-trump-unveils-plan-to-make-usa-the-crypto-capital-of-the-planet\/\">Trump promised<\/a> during his election campaign in August.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/trumps-crypto-czar-says-lack-of-bitcoin-long-term-strategy-has-cost-taxpayers-billions\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) 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 [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":48675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48674"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=48674"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/48675"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=48674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=48674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=48674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}