U.S. Sold 195,000 Bitcoins for $366M, Now Worth $17B, Says Crypto Czar

David Sacks, the White House's Crypto Czar, stated that over the past decade, the U.S. federal government sold approximately 195,000 bitcoins for proceeds of $366 million.

"If the government had held the bitcoin, it would be worth over $17 billion today," Sacks noted, highlighting the significant financial impact of not having a long-term strategy.

The bitcoins sold were likely confiscated assets, prompting discussions on how the government manages seized cryptocurrencies and the potential benefits of retaining them.

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