David Sacks, the White House AI and Crypto Czar, has recently posted on social media platform X (formerly known as Twitter), where he highlighted the financial cost of the U.S. government’s past Bitcoin sales.
David Sacks, the White House AI and Crypto Czar, has recently taken to the social media platform X, formerly known as Twitter, to highlight the financial cost of the U.S. government’s past Bitcoin sales.
In his post, Sacks criticizes the federal government for selling 195,000 Bitcoin in the past decade for approximately $366 million, which could easily be worth over $17 billion today. He calls this a missed opportunity for American taxpayers and attributes it to the lack of a long-term cryptocurrency strategy.
According to Secretary Howard Lutnick, Trump might announce the “Crypto Strategy Reserve” at the Crypto Summit that is set to be held on March 7. This criticism by Sacks, erupting amid such a situation, hints that in order to make America the crypto capital of the planet, he might actually announce establishing the Strategic Reserve during tomorrow’s summit.
The reserve is set to include Bitcoin, Ethereum, Solana, XRP and Cardano and also confirmed that Bitcoin will be treated differently. This establishment will mark a significant shift in the federal crypto policy.
Sacks has faced scrutiny regarding his potential conflict of interest in his role. To address the concerns, he disclosed that he sold all his personal crypto holdings on January 22, before taking up the responsibility as White House AI and Crypto Czar to ensure transparency. He has also promised to provide proof of his investments after the ethics process is completed.
This announcement by David Sacks has also affected the market in a positive manner as the price of the Bitcoin token continues to rise. Today, March 6, 2025, the token experienced a surge and it surpassed the $90,000 mark and reached to a price of $92,756.31.
At press time, the price of the token stands at $89,769.50, with a surge of 0.20% in the last 24 hours as per CoinMarketCap. Price of Ethereum (ETH), Solana (SOL) and XRP have also experienced a slight uptick in its prices as per CoinMarketCap after this tweet.
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