• Over the past 10 years, the federal government has sold around 195,000 Bitcoin for $366 million
• Today, that figure would be worth over $17 billion
• Sacks said the lack of a “long-term strategy” has cost American taxpayers

White House artificial intelligence (AI) and crypto czar David Sacks has criticized the US federal government’s lack of “long-term strategy” with the sale of confiscated Bitcoin.

In a post on X, Sacks wrote:

“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. That’s how much it has cost American taxpayers not to have a long-term strategy.”

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. That’s how much it has cost American taxpayers not to have a long-term strategy.

— David Sacks (@davidsacks47) March 6, 2025

Michael Saylor, Strategy’s chairman, responded: “You do not sell your Bitcoin.” Since 2020, Strategy (formerly MicroStrategy) has been actively purchasing Bitcoin. It currently holds 499,096 Bitcoin, valued at $44.72 billion.

Crypto Summit

The comment from Sacks comes as the White House gets ready to host its first Crypto Summit.

So far, 20 crypto leaders have been invited to the event, which will take place on March 7. According to Sacks, they decided to keep the numbers down to have a “meaningful conversation” regarding crypto policies.

An earlier report suggests that US President Donald Trump will unveil his plans for a Bitcoin reserve strategy during the roundtable. In an interview, US Commerce Secretary Howard Lutnick said:

“A Bitcoin strategic reserve is something the President’s interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday.”

Some of those attending include Vlad Tenev, co-founder and CEO of Robinhood; Arjun Sethi, CEO of Kraken; Brian Armstrong, CEO of Coinbase; Cameron and Tyler Winklevoss, founders of Gemini; and Michael Saylor, executive chair of Strategy.

Members of the Presidential Working Group on Digital Assets will also be in attendance.

“Crypto czar”

In December, Trump announced that Sacks would be the lead policy advisor on artificial intelligence and crypto, dubbing him the “White House AI and Crypto Czar.”

Trump wrote that Sacks will take up the role which are “two areas critical to the future of American competitiveness,” adding, among other things, that “he will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the US.”

As part of his role, Trump added that Sacks will focus on making America a “global leader” in these areas, something Trump promised during his election campaign in August.

After a spree of enforcement actions against criminal activity, the US stacked an impressive amount of Bitcoin over ten years. Crypto Czar David Sacks argues that selling the confiscated Bitcoins for a pittance has cost US taxpayers a fortune ahead of the planned Crypto Strategic Reserve.

America Could Have Gained $17 Billion From Hodling Its Seized BTC, Says Crypto Czar

Crypto Czar David Sacks has criticized previous administrations of the US government for selling off seized Bitcoins. According to Sacks, the value of the disposed assets is now worth a large fortune that could benefit US taxpayers.

In a post on X, Sacks disclosed that the US sold nearly 195,000 BTC over ten years for only $366 million. He argues if the federal government did not sell the Bitcoins, the assets would have been worth over $17 billion as Bitcoin eyes $100,000.

“If the government had held the bitcoin, it would be worth over $17 billion today,” said Sacks. “That’s how much it has cost American taxpayers not to have a long-term strategy.”

The US government’s BTC holdings came from busting criminal activities on the deep web with the Silk Road seizures topping the list. At the time, US authorities confiscated nearly 170,000 in a single bust from Silk Road founder Ross Ulbritch in 2013.

In 2020, authorities seized an additional 69,370 BTC and an additional 50,000 BTC associated with the Silk Road project.

US Authorities Sold Confiscated Bitcoins In Droves

The U.S. Marshalls Service (USMS) holds the confiscated BTC and organizes auctions for the sale of the assets. The Department of Justice (DoJ) has approved several BTC auctions drawing criticisms from several quarters over the handling of sales.

The last sale occurred barely 10 days before new President Donald Trump assumed office amid whispers of a national Bitcoin Strategic Reserve for the US. President Trump has announced a Crypto Strategic Reserve tapping Bitcoin and a slew of altcoins to bolster holdings.

“This isn’t just mismanagement. It’s theft from American taxpayers,” said Jane Adams on X. Imagine what could’ve been done with that wealth if only they had a clue about long-term strategy.”

As the government inches toward a Bitcoin reserve, the sale of confiscated Bitcoins will be a rarity in the US. Furthermore, the US may earmark a portion of its budget to scoop Bitcoins following high-level discussions in Friday’s White House Crypto Summit.

✓ Share:

Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.