Tim Wu, one of the White House’s top technology advisor and anti-trust experts, currently owns million in Bitcoin and FIL. According to Politico, Tim Wu’s financial disclosure shows that he owns between $1 million and $5 million worth of bitcoin. He also owns between $100,001 and $250,000 in Filecoin, a storage platform in cryptocurrency.
The official information also reveals that Wu’s investment in Bitcoin is the largest holding in his financial portfolio. In March, Wu joined Biden administration as special assistant for technology and competition policy at the National Economic council.
Wu hasn’t always been fan of bitcoin. In 2017, he called it a “Bubble” and posed the question “is it really worth anything at all?”
“Bitcoin isn’t backed by any sovereign, and unlike a stock or a bond it gives you a claim to nothing other than bitcoin itself,” Wu wrote.
Though any government or reserve asset doesn’t back bitcoin, he did say that cryptocurrency “might work fine as a store of value that you can sell.”
In 2002, he notably coined the term “net neutrality” and he also served in the Obama administration.
A white house official said in a statement that, “Tim is recused from any particular matters involving bitcoin or cryptocurrency generally because of his financial interest and has not worked on any such matters.”
Tim Wu’s Crypto Portfolio:
Based on the current price of bitcoin, Wu holds between 29 and 146 Bitcoins. Overall, Wu has a net worth between nearly $4 million and 11.5 million. The rest of his money is in Vanguard mutual funds. The bitcoin investment constitutes between 25% and 43% of his assets. It also shows the income from payment for articles, speeches, and book royalties.
Brown Institute provided the financial disclosure to POLITICO for media innovation at Columbia University, which requested the document from the white house.
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