President Trump has signed an executive order directing the Treasury and Commerce Departments to establish a US sovereign wealth fund within a year. This move is focused on generating wealth for the government.
Speculation is growing around the potential for the fund to invest in Bitcoin under the guidance of Howard Lutnick, a known advocate for the cryptocurrency. Senator Cynthia Lummis noted this could facilitate US Bitcoin accumulation.
Despite budget deficits, Trump mentioned financing the fund through tariffs. Treasury Secretary Scott Bessent outlined plans for the fund’s operation and indicated the potential integration of other assets.