A top antitrust expert at the White House is also a Bitcoin millionaire
Tim Wu owns between $1 million and $5 million in Bitcoin, according to the disclosure. | Edward Smith/Getty ImagesTim Wu, a top antitrust expert at the White House, is a Bitcoin millionaire, according to a personal financial disclosure he recently filed.
“Bitcoin isn’t backed by any sovereign, and unlike a stock or a bond, it gives you a claim to nothing other than Bitcoin itself,” he wrote, although he added that that “illusory quality” describes most forms of money. While he cast doubt on the practical value of consumers using Bitcoin to pay for everyday purchases because of its large price swings, he did say the cryptocurrency “might work fine as a store of value that you can sell.
Wu went on leave from his position as a law professor at Columbia University to join the Biden administration. At Columbia, he made $617,500 over the 16 months before he joined the White House.
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