White House Tech Advisor Tim Wu Keeps at Least $1 Million in Bitcoin – Bitcoin News TIM WU, the “CryptoCop”, has become a Bitcoin celebrity, and the White House is trying to distance itself from this regular talking point.
There are many Bitcoin enthusiasts out there who believe that Bitcoin is the future of money, a currency that will replace the need for a government fiat. However, not every Bitcoin supporter is a fan of the cryptocurrency and some have even expressed concerns that the only way to get rich off Bitcoin is to sell it.
The cryptocurrency world is abuzz with news that White House advisor Tim Wu is holding a significant amount of bitcoins. The cryptocurrency exchange Coinbase has confirmed that the controversial former FCC chair has an account with them, and posted a statement to say that “we’re in discussions with the White House about privacy and security.”Tim Wu, the Biden administration’s top adviser on technology and competition policy, owns more than $1 million in cryptocurrencies, according to a recently filed financial statement. The antitrust expert, known as a leading critic of big tech companies, has questioned bitcoin’s value in the past.
Biden’s top adviser, Tim Wu, has become a bitcoin millionaire
US President Joe Biden’s technology adviser Tim Wu is a bitcoin millionaire, Politico wrote in an article this week, citing his personal financial disclosures. The statement was provided to the publication by Columbia University’s Brown Institute for Media Innovation, which requested the document from the White House. Timothy Wu, Columbia University. According to the disclosure, Wu owns between $1 million and $5 million in Bitcoin (BTC) and between $100,001 and $250,000 in Filecoin (FIL), a cryptocurrency platform that offers decentralized cryptocurrency storage services. Official information also shows that Wu’s bitcoin investments make up the largest part of his financial portfolio. Mr. Wu is now special assistant to the president for technology and competition policy at the National Economic Council. In March, he took a leave of absence from his position as a law professor at Columbia University to work for the White House. He is considered an outspoken critic of the growing power of large technology companies. Timothy Wu is not involved in the Biden administration’s policymaking on crypto-currencies. Speaking on condition of anonymity, a White House official told Politico: Tim, due to his financial interests, has declined to participate in, and has not contributed to, certain topics related to bitcoin or cryptocurrencies in general.
Bitcoin skeptic turned crypto currency investor
The university professor wasn’t always against bitcoin. Tim Wu questioned its value, calling it a bubble in 2017. Bitcoin is not backed by a sovereign and, unlike stocks or bonds, cannot claim anything other than bitcoin itself, Wu writes in his article, acknowledging that this illusory property also characterizes most other forms of currency. He acknowledged bitcoin’s potential as a store of value, but doubted it could be used for daily payments. Based on a BTC price of about $34,000 at the time of this writing, Politico estimates that Wu owns between 29 and 146 real bitcoins. However, the publication notes that the value of the leading cryptocurrency is now more than 40% below the peaks reached earlier this year. The White House advisor’s investments in bitcoin represent between 25% and 43% of his wealth, worth between nearly $4 million and $11.5 million. The Biden administration recently made cryptocurrencies one of the main points of a new presidential anti-corruption directive, according to Bitcoin.com News. A White House official emphasized that the U.S. government will focus on modernizing existing anti-corruption laws to address cryptocurrencies and cybercrime, noting that the executive branch in Washington sees cryptocurrencies as a means of illegal financing. What do you think of White House adviser Tim Wu’s bitcoin investments? Share your thoughts on this topic in the comments section below.
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$FIL, advisor, Biden, Biden administration, Big Tech, Bitcoin, Bitcoin Millionaire, BTC, business, competition, company, crypto, cryptocurrencies, cryptocurrency, disclosure, expert, Filecoin, holdings, investments, Joe Biden, politics, president, technology, Tim Wu, White House Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.White House tech advisor, Tim Wu, has just revealed he has kept at least $1 million in bitcoins, according to his public financial statement.. Read more about tim wu net neutrality and let us know what you think.
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