📜Trump Promotes U.S. Sovereign Wealth Fund, Bitcoin May Become Investor Focus!
According to a Reuters report on February 4, U.S. President Trump signed an executive order on February 3 local time, approving the establishment of a U.S. sovereign wealth fund by the Treasury Department and the Department of Commerce, and requiring a plan on the fund's financing mechanism, investment strategy, capital structure, and governance model to be submitted within 90 days, with completion expected within the next 12 months.
It is reported that this sovereign wealth fund aims to enhance fiscal sustainability, reduce tax burdens, ensure economic security, and elevate international status, and will also be used for infrastructure development and expanding regional influence. Although Bitcoin was not mentioned when the executive order was signed, the market speculates that the fund may become a tool for the government to purchase and hold cryptocurrencies.
Once this news broke, it immediately sparked heated discussions in the market, especially in the cryptocurrency sector. On one hand, Commerce Secretary nominee Howard Lutnick, a staunch supporter of the crypto industry, suggested that this fund might be used to acquire strategic assets, such as China's social media platform TikTok, or to buy company shares leveraging the purchasing power of the U.S. government. He emphasized, "The scale of business for the U.S. government and companies is so large... It should create value for American citizens."
On the other hand, looking globally, other countries like Norway, China, Saudi Arabia, Australia, Iran, and Russia have similar sovereign wealth funds. If the U.S. sovereign wealth fund is established and truly ventures into Bitcoin investment, it would undoubtedly drop a bombshell in the cryptocurrency market, significantly altering the industry landscape.
After all, Trump has repeatedly made supportive statements about Bitcoin during his campaign, claiming he wants to make the U.S. the "cryptocurrency capital of the world" and even plans to establish a Bitcoin and cryptocurrency advisory committee. This series of statements undoubtedly adds more credibility to public speculation.
In summary, if the U.S. sovereign wealth fund really gets involved in Bitcoin investment, it would undoubtedly drop a bombshell in the cryptocurrency market, greatly changing the industry landscape.
💬What are your thoughts on President Trump's new move? Do you think the U.S. sovereign wealth fund will buy Bitcoin? See you in the comments!
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