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Trump Approves US Sovereign Wealth Fund—Will It Include Bitcoin?
In a recent move, President Donald Trump has signed an executive order to initiate the process of establishing a US sovereign wealth fund. The proposed fund aims to manage and distribute national assets for American citizens. This announcement has sparked widespread speculation about the potential inclusion of cryptocurrencies, specifically Bitcoin.
The government already holds over 207,000 BTC, exceeding $20 billion in value, according to BiTBO data. These existing reserves could be repurposed as part of the sovereign wealth fund, rather than engaging in direct market purchases. This would allow the US government to leverage its existing holdings and potentially benefit from any future price increases.
The sovereign wealth fund’s composition is still under wraps, but Commerce Secretary Howard Lutnick emphasized that it will involve strategic investments, including potential takeovers or acquisitions of major companies like TikTok. This has raised questions about the possibility of Bitcoin being included in the fund.
Senator Cynthia Lummis hinted at the prospect of a sovereign wealth fund holding Bitcoin, but did not specify whether this would be through new purchases or existing reserves. The exact details of the initiative are still unclear and will likely unfold over the next 12 months as the plan comes into effect.
In response to the announcement, Bitcoin prices briefly surged to $102,000 before retreating to $98,000. This price movement was attributed to the suspension of Trump-era tariffs, which had previously impacted market sentiment.
Source: coinchapter.com
