Trump Signs Executive Order for U.S. Sovereign Wealth Fund
- President Donald Trump signed an executive order to create an American sovereign wealth fund.
- Senator Cynthia Lummis, a Bitcoin advocate, highlighted the significance of this development for Bitcoin.
- Bitcoin’s value increased by 4%, reaching $102,050 at the time of reporting.
- Sovereign wealth funds are state-owned and invest government revenues in profitable assets.
- The U.S. has never operated a national sovereign wealth fund, though some states like Alaska and Texas have their own.
President Trump’s executive order aims to establish a U.S. sovereign wealth fund, with Senator Lummis noting its potential impact on Bitcoin, which saw a price increase to $102,050 following the announcement.
Source (2.6)https://decrypt.co/304200/trump-sovereign-wealth-fund-strategic-bitcoin-reserve?rand=52368
