- President Trump issued orders to create a US Sovereign Wealth Fund.
- The new sovereign wealth fund may also include cryptocurrencies such as BTC and ETH.
United States President Donald Trump issued a new executive order to create a US Sovereign Wealth Fund. The order aims to create the fund by the next year and plans to acquire popular short-video application TikTok.
This is not the first time a country has created a fund to make direct investments. If the creation of the Wealth Fund moves forward, the United States will join the list of countries such as the Middle East and Asia to have their own funds. Meanwhile, the crypto community is wondering whether cryptocurrencies will be included in the fund.
White House Press Secretary Karoline Leavitt confirmed Trump’s decision to create the Sovereign Wealth Fund. Furthermore, she also stated that the fund will play a key role in national financial planning. However, she didn’t reveal more details such as the structure and purpose of the fund.
With the pro-crypto US government and several states exploring strategic Bitcoin reserves, industry officials expect the Fund to include cryptocurrencies such as Bitcoin and Ethereum. If this happens, the crypto industry will go to new heights and experience a significant shift in market prices as recognized financial assets.
Trump’s new tariff system brought a huge shift in the global economy, causing financial markets to take a hit. Even the crypto market witnessed more than $2 billion liquidations in a single day.
As the new announcement of Trump reconsidering the tariff plan is making rounds, the crypto market is showing a slight recovery today. With the establishment of a Fund, the global economy is set to witness another major shift.
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