U.S. Government Criticized for Selling Seized Bitcoin Now Worth $17 Billion

White House Crypto Czar David Sacks highlights missed financial opportunity as the administration considers a strategic cryptocurrency reserve.

The U.S. government sold 195,000 Bitcoin over the past decade for $366 million, which would now be valued at over $17 billion due to Bitcoin's price surge.
White House Crypto and AI Czar David Sacks criticized the lack of a long-term strategy for managing seized cryptocurrency assets, calling it a loss for taxpayers.
President Trump has proposed creating a U.S. strategic cryptocurrency reserve, which could include Bitcoin, Ethereum, and altcoins like XRP and Solana.
The first-ever White House crypto summit is scheduled for Friday, bringing together industry leaders, investors, and policymakers to discuss the future of digital assets.
The federal government currently holds 207,189 Bitcoin from law enforcement seizures, alongside other digital assets like Ethereum and USDT.