David Sacks Confirms Bitcoin Reserves Research for Sovereign Wealth Fund at Conference

On February 5th, during a pivotal Q&A session at the conference, David Sacks revealed that assessing the viability of Bitcoin reserves has emerged as a key initiative, as directed by the U.S. President. This assessment will be part of a broader internal government working group focused on modern financial assets. Another significant topic that arose was the potential integration of cryptocurrency into the nation’s sovereign wealth fund, although official commentary on this matter remains forthcoming. Earlier reports have indicated that the U.S. President has taken steps to create a sovereign wealth fund via an executive order that directs the Treasury and Commerce Departments to spearhead this initiative. Notably, while explicit mention of cryptocurrency was absent, endorsements from key officials like Treasury Secretary Scott Bennett and Commerce Secretary nominee Howard Lutnick suggest a growing interest and support for the crypto industry within government circles.