Tim Wu is one of the White House’s top technology consultants and antitrust specialists. As per the report by Politico on 07-June-21, he presently holds millions in bitcoin (BTC, +2.48%) and FIL (-1.24%).

The report cites an individual financial revelation that Wu recently filed and guesses he owns between $1 million and $5 million in bitcoin. The consultant also has between $100,001 and $250,000 in FIL, the native coin of the digital loading and data retrieval platform Filecoin.

Here is a brief on the background-

U.S. President Joe Biden selected Wu in March as a special assistant for technology and competition policy at the National Economic Council. Before his term, he taught at Columbia Law School, however, he has also had turns at the Federal Trade Commission and National Economic Council.

Tim Wu is a Bitcoin millionaire to the financial disclosure he freshly filed. Wu, a tough critic of tech companies’ power, owns between $1 million and $5 million in Bitcoin. Also between $100,001 and $250,000 in Filecoin, which is a retention platform for cryptocurrency, as per the disclosure. His investment in Bitcoin is his major holding in his financial portfolio.

Wu linked the Biden management in March as a particular subordinate for technology and competition policy to the president at the National Economic Council. Though Wu will not have any participation in processing policies about cryptocurrency in that role, The disclosures show that one of Big Tech’s most spectacular critics is also invested with an asset class that is a directing tech world obsession.

A White House official stated in content that “Tim is rescued from any particular matters involving bitcoin or cryptocurrency generally because of his financial interest, and has not worked on any such matters.” The official asked for anonymity to discuss personnel matters.

Founded on Bitcoin’s current value of about $34,000, Wu holds between 29 and 146 effective Bitcoins. Bitcoin is off more than 40 percent from the peak of its value but has done comparatively well in 2021, up around 20 percent so far this year.

Shivangi Mujumdar

CBW - External Analyst

INDIA