Politico, a US news website, recently announced that Tim Wu might own BTC worth more than 1 million dollars. Known for his role as the top competition and technology policy advisor at White House, Tim Wu is making headlines globally.
As per the report, Tim is supposed to own a fortune worth between 1 to 5 million dollars in Bitcoin. Moreover, he is said to own 100,000 to 250,000 dollars’ worth of Filecoin as well. The report stated that Bitcoin is, currently, the largest holding Tim possesses in his financial portfolio. There has been no verification regarding the news, and Tim has not commented on it either.
One of the White House officials made a statement that Wu is reduced from indulging in matters regarding BTC or any other cryptocurrency in general. It is because of his financial concerns that he has not worked on any similar matters.
Tim is also a law professor at the well-known Columbia University. He is also known for being a Big Tech critic. Time joined the Biden administration in the form of an antitrust executive at the esteemed Economic Council.
Tim garnered attention for using the term net neutrality and has previously served during the Obama reign. Back in 2017, Tim did an interview with The New York Times. In the interview, he stated that Bitcoin is a bubble, and its popularity shows the masses are trusting technology over the governments or humans. He continued stating that BTC might never function as the accepted medium of exchange due to its massive fluctuations. However, it might work out for storing value and earning profits.
As per Politico, Tim currently owns a net worth of around 4 to 11.5 million dollars. Their report states that he has invested a whopping 25% to 43% of his net assets alone. The remainder of his finances is fixed in Vanguard mutual funds.
The previous month has been drastic for Bitcoin and the crypto sector in general. With constant price fluctuations, the industry is losing its momentum. If the reports turned out to be true, it would be a big shocker to everyone.
Tim Wu, the well-known White House competition and technology policy advisor, quickly gained attraction as a US news site stated his investments in Bitcoin. Tim is currently working under the Biden administration and was also a part of the Obama campaign. He has openly denied Bitcoin’s worth as a medium of exchange, stating that it might be useful only as a store of value. The news of Tim owning more than 1 million dollars’ worth of Bitcoin is surprising, and if turned out to be true, can spell trouble for him.