Newly appointed White House cryptocurrency advisor David Sacks recently retweeted a series of tweets that included what he had said about Bitcoin in the past.
Here’s what the new crypto chief has said about BTC in the past.
- Sacks, who has been a Bitcoin advocate for years, has said that he started buying Bitcoin in 2013, when it was just $130. Today, with Bitcoin’s price up over 76,000% since then, Sacks has clearly benefited from his early foresight. “I’m buying BTC,” Sacks said in 2013.
- A key theme in Sacks’ tweets is Bitcoin’s importance as a decentralized currency, highlighting its role in protecting against fiat currency devaluation by providing a hedge for those wary of inflationary pressures on traditional monetary systems.
- Sacks also expressed his admiration for Bitcoin’s anonymous founder, Satoshi Nakamoto, saying, “Satoshi Nakamoto deserves to be a billionaire.”
- Sacks had previously announced that he was working on a fictional feature film about Satoshi Nakamoto, a reference to Bitcoin’s deep connection to history. He described the project as “like watching The Social Network without knowing who the Mark Zuckerberg character might actually be.”
- Sacks noted that Bitcoin is a highly portable and impregnable store of value.
- Sacks sees Bitcoin as a tool that could fundamentally change the relationship between governments and money, and foresees the potential to separate money and the state.
- Sacks has made significant investments in Bitcoin-focused companies such as Lightning Labs, Fold, Bitwise, and Bitgo through his venture capital firm Craft Ventures.
- Reflecting on his time at PayPal, Sacks said he never thought he would be involved in payments again after leaving the company. However, Bitcoin changed that perspective. He sees Bitcoin as fulfilling PayPal’s original vision of creating a new world currency.
- Finally, Sacks said he believes Bitcoin represents the invention of digital scarcity.
*This is not investment advice.
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