$BTC

**Joe Biden Administration Sells 195 Thousand Bitcoins, US Loses IDR 277 Trillion**

The White House revealed that the sale of Bitcoin (BTC) by the United States (US) government in the past has recorded a loss of US$17 billion or equivalent to IDR 277.6 trillion. Head of the *Artificial Intelligence* (AI) and Crypto Division at the White House, David Sacks, stated that more than 195,000 BTC were sold for US$366 million.

If that Bitcoin had been held, its value now would exceed US$17 billion. Sacks obtained this information through the Grok chatbot after researching the history of the government's Bitcoin sales.

This statement was made in a fact sheet explaining the establishment of a strategic Bitcoin reserve through an executive order by President Donald Trump. The document stated that the premature sale of Bitcoin has resulted in significant losses for the public.

In a statement at the White House crypto summit on Friday (07/03) local time, Trump criticized the sale of Bitcoin that occurred during the administration of the 46th US President Joe Biden. He emphasized that from now on, the US government will not sell the asset.

“Unfortunately, the US government has sold tens of thousands of Bitcoins in recent years, which are now worth billions of dollars. Most of these sales occurred under the Biden administration, leading up to Trump's inauguration, who previously considered a strategic Bitcoin reserve,” said Trump.

With this step, Trump is committed to changing the way the government manages the Bitcoin it holds, ensuring that the asset will be kept as a store of value and will not be sold in the future.