Trump signed an administrative order that will establish a sovereign wealth fund within 12 months

Panews News on February 4th, according to CoinDesk, US President Donald Trump signed an administrative order on Monday afternoon asking the Ministry of Finance and the Ministry of Commerce to create a sovereign wealth fund. Although the Treasury Minister Scott Bessent has a cautious interest at at least about cryptocurrencies, HoWard Lutnick, the nomination of the Minister of Commerce, has always been an active supporter in the field. Lutnick's bond trading giant Cantor Fitzgerald is the custodian of a large number of government bonds of the stabilized currency Giant Tether. He also talked about his own personal investment in Bitcoin.

On Monday, Bessent and Trump appeared in the White House Oval Office in the United States. He said that the expected sovereign wealth fund will be created in the next 12 months. Although it is reported that Bitcoin is not mentioned at the signing ceremony, the sovereign wealth fund may be a way for government to purchase and hold cryptocurrencies.