Trump reveals wild $17 billion bitcoin move

Donald Trump’s new White House artificial intelligence and crypto czar, David Sacks, has slammed the federal government’s lack of “long-term strategy” on cryptocurrency, claiming it missed out on billions of dollars in potential gains.
“Over the past decade, the federal government sold approximately 195,000 bitcoin for proceeds of $366 million. If the government had held the bitcoin, it would be worth over $17 billion today,” Mr Sacks claimed in a post on X.
“That’s how much it has cost American taxpayers not to have a long-term strategy.”
The post comes ahead of the White House’s first-ever Crypto Summit on Sunday, Mr Trump announced his government would create a national strategic crypto reserve which would include five cryptocurrencies as part of his plan to make the US “the Crypto Capital of the World”.In a post to his Truth Social network, Mr Trump said he had signed an order which “directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA”. The value of all the first three digital currencies shot up on the news, marking an uptick in crypto price following a recent an hour later Mr Trump posted again, noting that other valuable cryptocurrencies including bitcoin and ethereum would be at “the heart of the Reserve”, causing the price of the two major digital currencies to rise more than 10 and 12 per cent , Mr Trump’s plan was quickly slammed as a “terrible idea” by investor Jason Calacanis.