Trump Orders Creation of Sovereign Wealth Fund—Could Bitcoin Be Included?

In a surprise move that’s got both Wall Street and the crypto world buzzing, US President Donald Trump has signed an executive order to establish a sovereign wealth fund. The announcement has sparked intense speculation about the potential inclusion of Bitcoin in the fund, sending the cryptocurrency’s price up modestly.

Trump’s executive order sets the stage for a US sovereign wealth fund, fueling speculation about Bitcoin’s potential role. The cryptocurrency sees a modest price uptick as investors weigh the possibilities.

What is a Sovereign Wealth Fund, Anyway?

So, what exactly is a sovereign wealth fund? Simply put, it’s a government-owned investment vehicle designed to manage national wealth. Think of it like a giant investment portfolio that’s meant to benefit the entire country. In this case, the US fund would likely focus on managing government assets, investing in a mix of assets to build long-term value for the nation.

According to the White House, Trump’s vision for the fund is to “invest in great national endeavors for the benefit of all of the American people.” The source indicated that the fund would be set up within the next 12 months, with Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick overseeing its creation.

A Crypto-Friendly Twist?

Here’s where things get interesting: Lutnick, the Commerce Secretary nominee, is a known crypto advocate. As the head of Cantor Fitzgerald, his firm is a custodian for Tether’s vast holdings of government securities, and he’s openly discussed his personal investment in Bitcoin. Bessent, on the other hand, has expressed cautious interest in cryptocurrencies.

While it’s too early to say for sure, the presence of crypto-friendly voices at the helm of the fund’s creation has sparked hopes that Bitcoin might play a role in the US government’s investment strategy. As the details of the fund progress, the idea of Bitcoin being part of the US government’s investment strategy could become more plausible, signaling a growing acceptance of crypto in traditional financial systems.

See also  Metaplanet's Bitcoin Strategy Boosts Stock Price by over 1000% in 2024

Market Reactions: A Modest but Notable Uptick

Following the news of the executive order, Bitcoin saw a small but notable uptick, rising to around $99,600. While the rise was modest, it reflects growing investor interest in the potential for Bitcoin to be included in major national financial strategies like sovereign wealth funds.

At the time of writing, Bitcoin (BTC) is trading at $98,860, having increased by 3.67% in the past day but showing a downturn of 4.02% over the past week. As the crypto world watches and waits, one thing is clear: Trump’s executive order has set the stage for a potentially game-changing development in the world of cryptocurrency.

Breaking News: Trump Orders Creation of US Sovereign Wealth Fund, Sparking Bitcoin Speculation

Source: Trump Orders Creation Of Sovereign Wealth Fund Could Bitcoin Be Included | Crypto-news-flash.com

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