{"id":43955,"date":"2021-06-08T14:51:54","date_gmt":"2021-06-08T11:51:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43955"},"modified":"2025-08-31T14:46:30","modified_gmt":"2025-08-31T11:46:30","slug":"tim-wu-bidens-technology-adviser-invested-up-to-5-million-in-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tim-wu-bidens-technology-adviser-invested-up-to-5-million-in-bitcoin\/","title":{"rendered":"Tim Wu, Biden\u2019s technology adviser, invested up to $5 million in Bitcoin"},"content":{"rendered":"

Tim Wu, the White House technology adviser, holds from $1 million to $5 million in Bitcoin, and from $100,001 to $250,000 in the native token of the Filecoin blockchain platform (FIL). This is according to Politico<\/a>, citing the expert’s personal-finances disclosure.<\/p>\n

According to the document, most of Wu’s wealth was invested in Vanguard mutual funds. Investments in Bitcoin account for 25-43% of his assets.<\/p>\n

In March 2021, the President of the United States Joe Biden appointed<\/a> Wu as technology and competition-policy adviser at the National Economic Council. Prior to this, the specialist taught at Columbia University’s Law School, and during the Obama administration worked at the Federal Trade Commission.<\/p>\n

Wu is a well-known critic of monopolies of large tech companies. In 2002 he coined the term network neutrality<\/a>.<\/p>\n

The specialist was not always a supporter of Bitcoin and other cryptocurrencies. In 2017, in an article for The New York Times<\/a> he called digital gold a bubble and questioned its intrinsic value.<\/p>\n

\n

\u201cBitcoin is not backed by any sovereignty. Unlike stocks or bonds, it does not confer rights to anything beyond itself,\u201d the expert wrote.<\/p>\n<\/blockquote>\n

Wu added that this ‘illusory quality’ characterizes most forms of money. He expressed doubts about Bitcoin’s practical value, as it is difficult to use for paying goods and services.<\/p>\n

A White House spokesman who wished to remain anonymous told Politico that Wu recused himself from any matters relating to Bitcoin and other digital assets because of his own interests.<\/p>\n

Earlier, Joe Biden directed a study of tracking of cryptocurrency transactions<\/a> as one of the possible measures against ransomware.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tim Wu, the White House technology adviser, holds between $1 million and $5 million in Bitcoin, and between $100,001 and $250,000 in Filecoin’s native token (FIL).<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1488,1449,26],"class_list":["post-43955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-filecoin-fil","tag-joe-biden","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43955"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43955\/revisions"}],"predecessor-version":[{"id":43956,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43955\/revisions\/43956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}