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Biden’s Executive Advisor Tim Wu Is A Bitcoin Millionaire

Tim Wu, the White House’s leading competitive technology and policy adviser. Reportedly rich in cryptocurrencies According to the latest personal financial disclosures found by Politico

Bitcoin is the largest holding in his portfolio, with Wu owning between $1 million and $5 million, Politico reports. He also owns between $100,001 and $250,000, the original cryptocurrency for the platform. Decentralized Storage Wu’s total net worth is between $4 million and $1

1.5 million, Politico reports.

Wu did not immediately respond to a CNBC Make It request.

In March, Wu joined Biden’s administration as an antitrust expert at the National Economic Council. and because of his investment He was therefore withdrawn from his involvement in the cryptocurrency policy.

Wu is known as a big tech critic. be a sponsor In 2002, he coined the term “free and open internet.” “Net neutrality” has clearly increased. He worked on competition policy for the Obama administration and worked on antitrust enforcement at the Federal Trade Commission.

Although his investments were recently disclosed, Wu had previously publicly disclosed his thoughts on bitcoin. In 2017, he wrote an op-ed for The New York Times about his thoughts and views. about bitcoin

“Bitcoin may be in a bubble,” he wrote, “but it is part of a much bigger trend that persists: shifting government trust to technology.”

While bitcoin isn’t backed by any government or reserve assets, it “may function as a store of value that you can sell,” Wu wrote.

Recently, senior US government officials and central bankers appeared to be wary of bitcoin and the cryptocurrency as a whole, calling for tighter regulations. Treasury Secretary Janet Yellen once called bitcoin “highly speculative” and ” An extremely inefficient transaction method.”

Although the potential of central bank digital currencies has been discussed, and the Federal Reserve has noticed research on the development of such currencies, Chairman Jerome Powell said central banks are not in a rush.

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