Billionaire venture capitalist Chamath Palihapitiya says the US government can get its federal sovereign wealth fund up and running by leveraging its Bitcoin (BTC) holdings.
On Monday, President Donald Trump signed an executive order for the Treasury and Commerce Departments to create a fund designed to provide long-term financial stability, economic growth and protection against economic shocks.
Palihapitiya says on the social media platform X that the Trump administration can get the project off the ground quickly by capitalizing on assets the US government already holds, including its Bitcoin trove.
“I think we can start by slowly selling down our 50% share of TikTok + borrowing against our BTC holdings if we don’t want to sell them. We can then add to this by directing any revenues from land/drilling deals and sales of any real estate from all of the abandoned buildings.
This is ~$50-100 billion with little effort over the first two to three years. No borrowing.
It should be invested in a mix of index funds, bonds, private equities, hedge funds and venture capital (VC) where VC is less than 10% and should shrink as the denominator gets bigger.”
According to Bitcoin Treasuries, the US government currently holds 198,109 BTC worth $19.408 billion.
Sovereign wealth funds are government-owned investment funds that typically use excess revenues, often from natural resources like oil, to grow money for the future.
While states like Alaska have been running their sovereign wealth funds for years, the federal government itself has never utilized one.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Billionaire Chamath Palihapitiya Proposes Using Government Bitcoin Holdings for Future US Sovereign Wealth Fund appeared first on The Daily Hodl.
The Daily Hodl – Read More