Donald Trump Sovereign Wealth Fund
U.S. Secretary of Treasury Scott Bessent speaks as President Donald Trump and U.S. Secretary of Commerce nominee Howard Lutnick look on after Trump signed an executive order to create a U.S. sovereign wealth fund, in the Oval Office of the White House on February 3, 2025, in Washington, D.C. JIM WATSON/AFP via Getty Images

KEY POINTS

  • Trump issued an executive order to establish a sovereign wealth fund
  • Lummis, a Trump ally, seemed to suggest the fund will consider holding Bitcoin
  • Some users believe the fund may consider holding other crypto assets too

U.S. President Donald Trump has signed an executive order (EO) to establish a sovereign wealth fund, and it has become a huge topic of discussion in the cryptocurrency community on X as questions emerged on whether the fund will hold crypto.

Treasury Secretary Scott Bessent and Commerce chief Howard Lutnick have been designated to oversee the fund's creation, and Bessent said he expects the sovereign wealth fund to "create value and be of great strategic importance" for the country.

Sen. Lummis Hints $BTC Inclusion

Crypto Twitter or CT, a collective term for crypto communities on X, went wild following the news especially after Sen. Cynthia Lummis, R-Wyo., seemed to suggest that Bitcoin, the world's largest cryptocurrency, will be considered for the U.S. sovereign wealth fund.

Lummis did not specifically mention Bitcoin, but her use of the BTC symbol in her post about the executive order had BTC holders excited. "This is a Big deal," she wrote, reposting Trump Press Secretary Karoline Leavitt's post about the EO's signing.

Lummis's Hint Draws Mixed Reactions

There were various reactions to Lummis's post, with some immediately concluding that the U.S. sovereign wealth fund will hold BTC.

On the other hand, other crypto holders pointed out that there was no mention of Bitcoin on the executive order, which could mean that other altcoins will be considered for crypto holdings.

What Does the EO Say?

The new executive order signed Monday by the U.S. president notes that Bessent and Lutnick are expected to closely coordinate with the presidential assistant for Economic Policy as they develop a plan to establish the fund.

Within 90 days of the order, a plan that includes the following provisions will be submitted to the president:

  • Recommendations for funding mechanisms
  • Recommendations for specific investment strategies
  • Recommendations for the fund's structure
  • A governance model for the fund
  • An evaluation of legal considerations around the fund's establishment
  • Assessment on whether such a fund requires legislation

At least based on the EO's language, it is too early to predict whether the U.S. sovereign wealth fund will actually hold Bitcoin or any other crypto asset.

On the other hand, the executive order did note that the sovereign wealth fund is expected "to promote the long-term financial health and international leadership" of the U.S. in the global financial realm.

The said phrase is closely linked to Trump's campaign promises to the crypto community that he will make crypto great again and ensure that the U.S. will lead in global crypto dominance.

He has also suggested ahead of the 2024 U.S. elections that the country could possibly use Bitcoin to "wipe out" the massive debt of the world's largest economy.

Read more