David Sacks: The U.S. Sold 195,000 BTC for Pennies
Prominent venture investor David Sacks has revealed that over the past decade, the U.S. government sold off 195,000 BTC, generating just $366 million in revenue. These bitcoins were seized in various operations, including the takedown of the infamous Silk Road marketplace.
However, if the government had held onto them, their value today would be around $17 billion. Despite Bitcoin’s massive price appreciation, U.S. authorities continue to liquidate confiscated assets rather than retain them as long-term investments. This strategy has drawn criticism from crypto investors who view Bitcoin as one of the most valuable assets in the world
