The US government lost $17 billion by selling Bitcoin in the early years? Trump's "Crypto Tsar" David Sacks points out wrong decisions!

Did the US government sell Bitcoin at a low price, missing out on a hundred billion business opportunity?

David Sacks, the "Cryptocurrency Czar" of the Trump administration, recently pointed out that the US government has sold 195,000 Bitcoins for $366 million over the past decade, and the value of these Bitcoins has now exceeded $17 billion, resulting in a huge potential loss for taxpayers.

With Bitcoin prices hitting new highs, this decision is seen as a major missed opportunity, also highlighting the "short-sightedness" of the US government's digital asset policies.

The Trump administration wants to turn the US into the "global capital of cryptocurrencies"

Sacks' comments echo the cryptocurrency development plan recently proposed by Trump, which includes the idea of establishing a national-level cryptocurrency reserve. The plan was first announced in January 2025, symbolizing a major shift in the US government's attitude towards digital asset policies.

The Trump administration has been increasingly emphasizing the potential of cryptocurrencies for the US economy and financial system, even calling for the US to become the "global capital of cryptocurrencies".

David Sacks: Leading the formulation of cryptocurrency policies

As the leader of the President's Digital Asset Working Group, David Sacks is responsible for formulating the legal framework for cryptocurrencies. After taking up the position in December 2024, he even chose to sell his personal cryptocurrency assets to avoid conflicts of interest.

Sacks has been a supporter of cryptocurrencies in the past and has argued that the US should embrace blockchain technology rather than see it as a threat to the financial system. His stance contrasts sharply with the traditional skepticism of the political establishment, also raising concerns about whether the Trump administration will push for more pro-cryptocurrency policies in the future.

Will the US government regret initially selling Bitcoin?

Looking back, the US government has repeatedly confiscated Bitcoins from criminal activities such as the Silk Road and auctioned them off at low prices. However, with the surge in Bitcoin prices, these "fire sale" decisions now appear to be a major financial misstep. As the Trump administration actively embraces cryptocurrencies, whether the US government will change its strategy, start accumulating Bitcoin, and even invest in blockchain technology, will become a focus of market attention.