On February 3, 2025, President Donald Trump signed an executive order to create a sovereign wealth fund, with the Treasury and Commerce Departments tasked to lead the initiative. While bitcoin was not explicitly mentioned during the signing, there is speculation that the fund could serve as a means for the government to acquire and hold bitcoin. Treasury Secretary Scott Bessent has shown some interest in cryptocurrencies, while Commerce Secretary nominee Howard Lutnick has significant personal investments in bitcoin. Bessent anticipates the fund could be established within a year. Following the announcement, the price of bitcoin increased moderately to $99,600.

Source 🔗