On Feb. 3, President Trump announced plans to create a US sovereign wealth fund, a national investment vehicle designed to generate and distribute assets for American citizens.<\/p>\n
Trump signed the executive order at a White House event directing Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick, who are both pro-crypto, to \u201cbegin a process that will hopefully result in the creation of an American sovereign wealth fund.\u201d<\/p>\n
\u201cWe\u2019re going to create a lot of wealth for the fund,\u201d Trump told reporters before adding, \u201cAnd I think it\u2019s about time that this country had a sovereign wealth fund.\u201d<\/p>\n
The fund \u201cwill be a combination of liquid assets, assets that we have in this country as we work \u2026 to bring them out for the American people,\u201d said Bessent, who added that it will be set up within the next 12 months,\u00a0according<\/a> to NBC.<\/p>\n The fund could be potentially used to acquire strategic assets such as a potential takeover of the Chinese social media platform TikTok<\/a>, alluded Lutnick.\u00a0It could also leverage the US government\u2019s massive purchasing power to gain equity in companies.<\/p>\n \u201cThe extraordinary size and scale of the U.S. government and the business it does with companies \u2026 should create value for American citizens,\u201d Lutnick said.\u00a0Other countries with large sovereign wealth funds include Norway, China, Saudi Arabia, Australia, Iran, and Russia.<\/p>\n In reaction to the news, Wyoming Senator Cynthia Lummis hinted that the fund could be used to buy Bitcoin.<\/p>\n This is a \u20bfig deal. https:\/\/t.co\/ZShfQcEGwc<\/a><\/p>\n \u2014 Senator Cynthia Lummis (@SenLummis) February 3, 2025<\/a><\/p>\n\n However, if the fund does include BTC, it is likely to come from the stash that the United States already holds rather than buying more.<\/p>\n According to Blockchain.com, an FBI-owned address linked to Silk Road seizures<\/a> still holds<\/a> 69,370 BTC worth around $6.8 billion at current market prices. Total US holdings exceed 207,000 BTC worth more than $20 billion, according<\/a> to BiTBO.<\/p>\n The US will buy Bitcoin.<\/p>\n Trump just announced the creation of a US Sovereign Wealth Fund.<\/p>\n It will be headed by Secretary of Commerce @howardlutnick<\/a> and Treasury Secretary @ScottBessent528<\/a>. Both like Bitcoin.<\/p>\n I\u2019d say there\u2019s a 100% probability they buy Bitcoin.<\/p>\n \u2014 Wayne Vaughan (@WayneVaughan) February 3, 2025<\/a><\/p>\n\n Crypto markets have recovered since the Trump tariffs were suspended<\/a> on Monday. BTC reclaimed $102,000 in an intraday high but has since retreated back to around $99,000 at the time of writing, as the bounce may have been short-lived.<\/p>\n AI and real-world asset tokenization altcoins were also surging, but Ethereum remained lackluster, failing to top $3,000 despite an endorsement from Eric Trump<\/a>.<\/p>\n The post Trump Approves US Sovereign Wealth Fund, Will it Buy Bitcoin?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" On Feb. 3, President Trump announced plans to create a US sovereign wealth fund, a national investment vehicle designed to generate and distribute assets for American citizens. Trump signed the executive order at a White House event directing Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick, who are both pro-crypto, to \u201cbegin a […]<\/p>\n","protected":false},"author":0,"featured_media":41457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41456"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41456"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41457"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Backing?<\/h2>\n
BTC Price Recovers<\/h2>\n