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.
In the post, Sacks criticized the federal government for selling 195,000 Bitcoin in the past decade for approximately $366 millions, which could easily have been worth over $17 billion today. He called this a missed opportunity for American taxpayers, attributing it to the absence of a long-term cryptocurrency strategy.
Howard Lutnick’s Statement to Come True?
According to Secretary Howard Lutnick, there is a possibility that Trump might announce the “Crypto Strategy Reserve” at the Crypto Summit that is scheduled to be held on March 7, 2025. This criticism by Sacks erupting amid such 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.
According to Secretary Lutnick, the reserve is expected to include Bitcoin, Ethereum, Solana, XRP and Cardano and also confirmed that Bitcoin will be treated differently. This establishment will mark a significant shift the in the federal crypto policy.
David Sacks Under Scrutiny
Sacks recently faced a huge 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.
Bitcoin Surges
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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