Bitcoin could be included in newly approved sovereign wealth fund
- President Donald Trump signed an executive order for the creation of a sovereign wealth fund in the US.
- Bitcoin could be added to the fund, according to Bitwise senior investment strategist Juan Leon.
- This comes after President Trump signed an order to issue a digital asset stockpile.
President Donald Trump signed an executive order on Monday that details plans for the creation of a sovereign wealth fund for the development of the US economy, drawing the attention of crypto experts who believe that the fund could include Bitcoin.
Donald Trump signs executive order for sovereign wealth fund, Bitcoin reclaims $100,000
President Trump has ordered the creation of a first-ever US sovereign wealth fund to serve as a tool for economic development.
The Treasury and Commerce departments have been charged with the responsibility of creating the fund.
While the signed order doesn't state many details, it instructs both departments to submit a plan for the fund within 90 days. This includes investment strategies, funding mechanisms, fund structure and a governance model.
Treasury Secretary Scott Bessent stated that the fund will be established within the next 12 months.
"We're going to stand this thing up within the next 12 months. We're going to monetize the asset side of the US balance sheet for the American people," said Bessent during a media panel, according to CNBC.
The president first mentioned the idea of a sovereign wealth fund during his campaign last year, stating that it could fund national projects.
This came after President Trump signed an executive order to create a US digital asset stockpile last month.
The new sovereign wealth fund order has stirred optimism among crypto community members, who have been speculating about the addition of Bitcoin to the fund.
Bitwise senior investment strategist Juan Leon highlighted that the inclusion of Bitcoin in the fund is a big possibility. He stated that the government could include BTC in the strategic wealth fund while accumulating more Bitcoin for a strategic reserve.
First an EO to determine a strategic bitcoin reserve, now a sovereign wealth fund. Looks to me like they could fold the former into the latter. Better yet, include accumulate bitcoin in the sovereign wealth fund while holding a separate strategic reserve. https://t.co/iRITQ3Wxdb
— Juan Leon (@singularity7x) February 3, 2025
Bitcoin has reclaimed the $100,000 level following President Trump's signing of the sovereign wealth fund order.
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