The post David Sacks Reveals He Sold Crypto Holdings Before Trump Took Office appeared on BitcoinEthereumNews.com.

Sacks stated that he liquidated his Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) holdings before Donald Trump took office. Despite this, his investment firm, Craft Ventures, still has stakes in select crypto startups. Although Sacks got rid of his crypto holdings, Metaplanet continued its aggressive Bitcoin acquisition strategy by purchasing 156 BTC for $13.4 million and expanding its corporate Bitcoin holdings. The firm is also exploring international expansion and a potential US listing. Additionally, BlackRock added its Bitcoin ETF to its $150 billion model portfolio, allowing portfolios with alternative assets to allocate between 1% and 2% to the iShares Bitcoin ETF Trust (IBIT). Despite the large recent outflows from Bitcoin ETFs, BlackRock is still bullish on Bitcoin’s long-term potential due to its diversification benefits. David Sacks Confirms He No Longer Holds Any Crypto David Sacks, the White House AI and crypto czar, confirmed that he no longer holds any cryptocurrency assets. He stated that he sold everything before Donald Trump took office as President of the United States. In a post on X on March 2, Sacks clarified that he liquidated his holdings, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), before the beginning of the administration. Sacks’ comments were made in response to a Financial Times article, which reported that his investment firm, Craft Ventures, still has stakes in a small number of crypto startups. According to the publication, both Sacks and the firm divested their direct crypto holdings shortly after Trump’s inauguration.  Craft Ventures has launched four investment funds, with its most recent fund closing in November after raising $712 million. The firm also backed several crypto-related companies, including Bitwise Asset Management and BitGo, and also holds investments in major social media platforms like Meta, Reddit, and X. Sacks also made a personal investment in the Solana-focused venture…

---

Filed under: News - @ March 3, 2025 9:23 am