David Sacks: The government's lack of a long-term Bitcoin strategy has caused huge losses for taxpayers

David Sacks, the person in charge of artificial intelligence and encryption affairs at the White House in the United States, also known as "Encryption Czar", stated that over the past decade, the U.S. federal government has sold a total of 195,000 bitcoins with cumulative earnings of approximately $366 million. However, if the government had held onto them for a longer period, these bitcoins would now be worth more than $17 billion. Sacks pointed out that due to lack of long-term bitcoin strategy by US government it has led taxpayers to suffer huge potential losses.