by ZeroHedge News Staff at ZeroHedge
With Secretary of State Marco Rubio setting in El Salvador (perhaps the most bitcoin-friendly nation in the world currently), and President Trump’s crypto ‘tzar’ David Sacks’ recent comments on the importance of outpacing China on the tech (crypto and AI) front, one could be forgiven for anticipating something large coming very soon with regard the possibility of a Strategic Bitcoin Reserve.
And sure enough, this morning, President Trump signed an executive action he said would direct officials to create a sovereign wealth fund for the US, following through on an idea he floated during the presidential campaign.
“We have tremendous potential,” Trump told reporters in the Oval Office on Monday as he announced the move.
The president said the action would charge Treasury Secretary Scott Bessent and Howard Lutnick, the nominee for Commerce secretary, with spearheading the effort.
Bessent, who joined Trump at the Oval Office, said the fund would be created in the next 12 months, calling it an issue “of great strategic importance.”
Lutnick suggested the fund could be used to facilitate the sale of TikTok,…
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