Wyoming Senator Cynthia Lummis suggested that President Donald Trump’s executive order for creating a US sovereign wealth fund could potentially lead to the government acquiring Bitcoin. The executive order directs Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick to establish the wealth fund, which aims to monetize US assets. While the officials did not confirm investments in cryptocurrencies, Lummis hinted that the fund could support Bitcoin purchases. Other Bitcoin advocates, including Wayne Vaughan, also believe that the fund might be structured to facilitate Bitcoin investments. Trump has previously made campaign promises related to the crypto industry, including establishing a Bitcoin stockpile. Following the announcement, Bitcoin's price initially dropped but then rebounded, indicating market interest in the potential developments from the executive order.

Source 🔗