US president Donald Trump signed an executive order Monday afternoon charging Treasury and Commerce departments with the creation of a sovereign wealth fund.
While Treasury Secretary Scott Bessent expressed the least careful interest in the crypto, the nominee of Commerce Secretary Howard Lutnick became strong sector champion. His bond trading powerhouse cantor Fitzgerald is the caretaker for stablecoin giant Tether who is huge handling the role of government, and Lutnick himself talks about his own personal exposure to Bitcoin (BTC).
Appearing next to Trump at the Oval Office Monday, Bescent said he hopes that the wealth of wealth funds will be created in the next 12 months. While Bitcoin has been reported not to be mentioned in signing, a sovereign wealth fund can be a vehicle where the government can buy and hold crypto.
Bitcoin rose moderately to $ 99,600 to awakening the Executive Order news.
