Son of Taiwan democracy movement leader, Biden White House aide Wu Hsiu-ming, declares owning over a million dollars in Bitcoin.

Media POLITICO reported that according to data provided by Columbia University, Tim Wu, a tech critic in the Biden White House, disclosed owning between $1 million to $5 million worth of Bitcoin in his financial disclosure, as well as Filecoin (FIL).

Who is Tim Wu?

Tim Wu is a professor at Columbia Law School and currently serves as a special assistant for technology and competition policy at the White House. He has also held public office during the Obama administration. He is well-known in the U.S. legal community for his significant contributions to antitrust and telecommunications policy.

Tim Wu's father, Wu Ming-da, is from Tainan, Taiwan, and studied medicine at National Taiwan University before furthering his studies in the United States. He was actively involved in the democratization movement in Taiwan.

Revealing High Cryptocurrency Holdings

It is alleged that Tim Wu holds approximately $1 million to $5 million in Bitcoin and $100,000 to $250,000 in Filecoin (FIL). His Bitcoin holdings are reported to be the largest among all his investments.

Wrote in 2017: Bitcoin Could Become a Store of Value

In a column for The New York Times, Tim Wu wrote, "Bitcoin is not backed by any sovereign state, unlike stocks or bonds, you can't appeal to anything other than Bitcoin itself." While he believes Bitcoin shares many characteristics with most currencies, he expressed skepticism about its use in daily payment scenarios due to its high volatility.

At that time, he suggested that Bitcoin could potentially become a tradable store of value. He also stated that Bitcoin reflects a shift from human-organized trust to code-based systems.

Tim Wu declined to comment on the matter, and a White House representative stated that to avoid conflicts of interest, Tim Wu has not been involved in any Bitcoin or cryptocurrency-related matters.