This Biden Adviser Holds Between 25%–43% of His Net Worth in Bitcoin
A key White House advisor holds at least $1 million in Bitcoin.
Tim Wu, who advises the Biden administration on technology and competition policy, keeps a large portion of his wealth in the world’s leading cryptocurrency.
Known for being a tough critic of Big Tech and their centralized power, Wu owns between $1 million and $5 million in Bitcoin, and between $100,001 and $250,000 in Filecoin, a decentralized storage network, according to a personal financial disclosure he recently filed.
Although his investment in Bitcoin comprises 25 to 43 percent of his portfolio, the Columbia law professor also lists gold bars as assets.
Wu, who coined the term ‘net neutrality,’ has spent years advocating for a free and open internet that operates seamlessly without any throttling by corporate or government providers.
Wu believed Bitcoin could be a potential store of value in 2017, as he wrote in an opinion piece for the New York Times.
“If enough others value something, that can be enough to make it serve as a store of value. Sure, Bitcoin will crash again, but over its lifetime, it has already withstood multiple crashes, runs and splits. It actually feels tested.”
Wu joined the Biden White House in March.
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Author: Daily Hodl Staff