In a significant development reported by COINOTAG on February 4th, former President Trump has mandated the U.S. Treasury and Commerce Departments to formulate a comprehensive strategy for the establishment of a new U.S. sovereign wealth fund within a 90-day timeframe. The proposed guidelines are set to encompass financing mechanisms, investment strategies, and a well-defined governance model. Trump emphasized that this initiative aims to create substantial wealth and asserts the necessity for the nation to adopt a sovereign wealth fund.
U.S. Treasury Secretary Benson remarked that the initiative will focus on monetizing assets from the U.S. balance sheet, thereby generating value for American citizens. This includes leveraging both liquid assets and various domestic holdings. Experts suggest that, due to the current constraints on surplus funds, Congressional approval may be essential for new funding sources. The executive order further mandates a thorough assessment of any legislative needs.
Moreover, Trump’s executive directive aims to complete the fund’s establishment within the next twelve months. Although direct references to Bitcoin were absent during the announcement, analysts speculate that the newly formed fund may serve as a potential instrument for government investments in cryptocurrency.