The cryptocurrency community is rumored that Trump may use the sovereign fund to buy Bitcoin
US President Trump previously signed an executive order directing the US Treasury and Commerce Departments to establish a sovereign wealth fund within the next 12 months, to be managed by former Morgan Stanley tech investment banker Grimes, with the fund's primary funding expected to come from tariffs.
Currently, there are rumors in the cryptocurrency community that Trump may use the sovereign wealth fund to purchase Bitcoin. Nevertheless, on the 17th, Bitcoin not only did not receive a boost but instead saw a drop of over 1% at one point during trading.
