Cryptocurrencies may be a concern for some members of US President Joe Biden’s administration, but that hasn’t stopped one employee from owning a relative worth of Bitcoin (BTC). BTC).
Tim Wu, special assistant on technology and competition policy to President Joe Biden, holds more than $1 million in Bitcoin. A recent personal financial disclosure has also revealed that he is also “tied” to Filecoin (FIL). Wu is said to own between $1 million and $5 million worth of Bitcoins as well as between $100.00 and $250,000 in FIL.
Bitcoin makes up a major part of the White House adviser’s financial portfolio, estimating that based on his Bitcoin ownership, Wu could hold between 29 and 146 BTC.
Tim Wu is a prominent legal scholar and former Columbia University law professor who argued against Bitcoin’s value proposition. Back in December 2018, Wu joined a community of critics calling BTC a bubble as the leading cryptocurrency surged to a year-high near $20,000.
In August 2017, Wu weighed in on the Bitcoin hard fork story that led to the emergence of Bitcoin Cash (BCH). At the time, Wu criticized Coinbase’s initial decision not to support the fork that temporarily prevented the exchange’s users from accessing BCH.
This is indeed a surprising news from within the White House, especially at a time when Bitcoin and cryptocurrencies in general are being more closely monitored under the management of President Joe Biden. Both the SEC’s Gary Gensler and Treasury Secretary Janet Yellen are moving towards strict crypto regulations.
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