Cryptocurrency may be a curse for some members of the administration of United States President Joseph Biden, but that hasn’t stopped one employee from owning a small fortune in bitcoin (B T c)
according to a report good By Politico Monday, Tim Wu, special assistant for technology and competition policy to the president at the National Economic Council, owns more than $1 million in bitcoin.
Wu’s BTC ownership came to the fore following a recent personal financial disclosure, which also disclosed his ownership of Filecoin (FIL). Wu reportedly holds $1 million and $5 million worth of bitcoin, as well as $100,001 and $250,000 worth of FIL tokens.
The White House adviser’s bitcoin pot reportedly forms a large part of Wu’s financial portfolio which is estimated to be worth between $4 million and $11.5 million. Depending on his estimated bitcoin ownership, Vu could hold between 29 and 146 BTC.
Wu, a prominent legal scholar and law professor at Columbia University, has previously argued against the value proposition of bitcoin. In early December 2018, Wu joined a group of critics who dubbed BTC a bubble as the leading cryptocurrency reached an all-time high of $20,000.
The legal scholar is also a noted critic of large tech firms and was responsible for coining the term “net neutrality” in 2003. According to Politico, an unnamed White House source says that Wu has distanced himself from policy matters related to bitcoin and the cryptocurrency.
Back in August 2017, wu weight On bitcoin hard fork saga Which led to the rise of Bitcoin Cash (BCHAt the time, Wu criticized Coinbase’s initial decision to temporarily not support the fork. Exchange users with BCH . block from reaching.
Bitcoin and crypto in general are coming under scrutiny under the Biden administration, seemingly with new anti-BTC narrative. ransomware attack. Securities and Exchange Commission Chairman Gary Gensler and Treasury Secretary Janet Yellen have both indicated Strict Cryptocurrency Rules.