Chris Campbell:

White House Crypto Czar Says Public Has ‘Lost Out on Over $17 Billion’ in Bitcoin Value

David Sacks, the White House crypto czar, said Friday that taxpayers have lost out on "over $17 billion of value" because earlier administrations never took advantage of bitcoin already in the U.S. government's possession.

"The federal government has come into the possession of roughly 400,000 bitcoin through civil or criminal asset forfeitures," Sacks said. "We've had this very ad hoc strategy where we just would sell the bitcoin, sort of almost willy-nilly, and we sold about half of it. We only made about $400 million. Today, that bitcoin would have been worth over $17 billion, so the American taxpayer lost out on over $17 billion of value."

Sacks stressed that the government is not buying any cryptocurrency, just using the cryptocurrency that has already been accumulated through criminal or civil asset forfeitures. He repeatedly compared bitcoin to U.S. holdings of gold, explaining that the U.S. won't be selling it, unless Trump changes his mind down the road. 

White House officials also noted that an official audit of the government's digital asset holdings has never been completed but will be following the president's executive order, allowing the administration to get a more concrete understanding of what the U.S. possesses.

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James Altucher:

Bitcoin Drops Below $80,000 as Macro Headwinds Offset Trump Push

Cryptocurrency prices extended their slide as escalating tariff war tensions and diminishing prospects of further Federal Reserve rate cuts offset a wave of pro-crypto announcements from President Trump last week.

Trump’s crypto-friendly stance, including an order to create a U.S. Bitcoin reserve and a separate stockpile of other tokens, along with a high-profile summit with industry executives in Washington, has done little to lift market sentiment.

“The apparent capricious favoritism in the administration’s selection of assets for the strategic reserve — especially after the launching of Trump and Melania coins — is a strong deterrent to investors,” Ari Paul, co-founder of BlockTower Capital, said. “It’s created the impression that the Trump administration is engaged in lobbying based selection and promotion of ‘insider’ assets."

Since February investors have withdrawn a net $4.4 billion from the group of U.S. Bitcoin ETFs, which played a key role in the token’s record run last year. The largest crypto asset is currently down 25% from its record high of $109,241 and the broader crypto market has lost over $1 trillion in market capitalization from its peak.

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Davis Wilson:

25 Years After the Dot-Com Peak… It’s Happening Again

Stocks are getting crushed again this morning. This time, it’s because President Trump wouldn’t rule out a recession due to his tariffs, DOGE job cuts, and generally unpredictable behavior that could shake consumer and business confidence.

Despite the market’s selloff, it’s critical to remember that some of the greatest buying opportunities in history have come from periods of uncertainty.

But with the economy teetering on the edge and market volatility rising, how can you tell whether this is a true peak or a moment that will define the next 10 years?

That’s exactly what we’ll be answering during tomorrow's event: Tech Turning Point 2025. We’re live streaming this completely FREE event from Austin, TX – home of the SXSW conference tomorrow, March 11th at 2pm ET. Read on for more info!

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