{"id":623899,"date":"2025-02-04T09:20:17","date_gmt":"2025-02-04T09:20:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=623899"},"modified":"2025-02-04T09:20:17","modified_gmt":"2025-02-04T09:20:17","slug":"cynthia-lummis-hints-that-donald-trumps-new-sovereign-wealth-fund-may-buy-bitcoin-calls-it-a-big-deal","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cynthia-lummis-hints-that-donald-trumps-new-sovereign-wealth-fund-may-buy-bitcoin-calls-it-a-big-deal","title":{"rendered":"Cynthia Lummis Hints That Donald Trump\u2019s New Sovereign Wealth Fund May Buy Bitcoin, Calls It &#8221;A Big Deal\u201d"},"content":{"rendered":"<p>Wyoming Senator Cynthia Lummis hinted that the US may soon begin buying Bitcoin, following President Donald Trump&rsquo;s executive order to establish a sovereign wealth fund.<\/p>\n<p><span style=\"font-weight: 400;\">&ldquo;This is a &#8383;ig deal,&rdquo; Lummis said in a Feb. 3 X <\/span><a href=\"https:\/\/x.com\/senlummis\/status\/1886503370254426323\"><span style=\"font-weight: 400;\">post<\/span><\/a><span style=\"font-weight: 400;\"> in response to Trump signing the new executive order, while including the BTC logo in her post.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone\" src=\"https:\/\/dddn.1cdn.vn\/2024\/11\/05\/ty-le-thang-cu-cua-ong-trump-khong-he-nho-anh-cnn-.jpg\" alt=\"Donald Trump\" width=\"1480\" height=\"833\"><\/p>\n<h2><span style=\"font-weight: 400;\">Trump Kickstarts US Sovereign Wealth Fund Creation<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">President <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/best-crypto-to-buy-the-dip-as-altcoins-crash-after-trump-tariffs-ignite-trade-war\"><span style=\"font-weight: 400;\">Trump<\/span><\/a><span style=\"font-weight: 400;\"> signed the executive order for a US sovereign wealth fund during a Feb. 3 press event in the Oval Office. The order directs Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick to initiate the process &ldquo;that will hopefully result in the creation of an American sovereign wealth fund.&rdquo;&nbsp;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">HAPPENING NOW: President Trump signs an Executive Order calling for the creation of a Sovereign Wealth Fund&#128184; <a href=\"https:\/\/t.co\/sMkBg3bUwX\">pic.twitter.com\/sMkBg3bUwX<\/a><\/p>\n<p>&mdash; Karoline Leavitt (@PressSec) <a href=\"https:\/\/twitter.com\/PressSec\/status\/1886474248455086456?ref_src=twsrc%5Etfw\">February 3, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The President&rsquo;s order will be enacted &ldquo;within the next 12 months,&rdquo; Bessent said during the event. Neither Trump, Bessent or Lutnick specifically stated that the fund, if established, would invest in cryptos such as BTC. They did, however, suggest that the government could purchase TikTok.<\/span><\/p>\n<p>&rdquo;<span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3\">Both like Bitcoin,&rdquo; <a href=\"https:\/\/x.com\/WayneVaughan\/status\/1886478476397457518\">said Wayne Vaughan<\/a>&nbsp;on <\/span><span style=\"background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);\">X, referring to Bessent and Lutnick. &rdquo;<\/span><span style=\"background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);\">I&rsquo;d say there&rsquo;s a 100% probability they buy <\/span><span class=\"r-b88u0q\" style=\"background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);\">Bitcoin<\/span><span style=\"background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);\">.&rdquo;<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Trump Executive Actions Face Pushback<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Trump has signed several executive orders since re-entering the White House on Jan. 20. Many of these orders have faced immediate backlashes from organizations and authorities who question Trump&rsquo;s power to enact laws through executive actions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In one instance, a federal judge blocked an order attempting to revoke birthright citizenship under the 14th Amendment to the US Constitution. The judge called the action &ldquo;blatantly unconstitutional.&rdquo;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trump also imposed import <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/crypto-crash-deepens-as-trump-tariffs-on-canada-mexico-and-china-ignite-trade-war\"><span style=\"font-weight: 400;\">tariffs<\/span><\/a><span style=\"font-weight: 400;\"> on Canada, Mexico and China. This ignited fears of a global trade war and slowed economic activity, which impacted risk-on assets like cryptos. BTC dropped below the $100K mark over the weekend as a result of the market uncertainty.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite Trump&rsquo;s announcement that he would pause the tariffs for at least 30 days, BTC continues to trade below the psychological $100K level at $99,434.09 as of 1:24 a.m. EST.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/pepe-unchained-pump-pad-launch-sends-pepu-soaring-even-as-crypto-market-tumbles\"><span style=\"font-weight: 400;\">Pepe Unchained Pump Pad Launch Sends PEPU Soaring<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/elon-musks-dad-seeks-200-million-for-think-tank-via-musk-it-meme-coin-thats-soared-512\"><span style=\"font-weight: 400;\">Elon Musk&rsquo;s Dad Seeks $200 Million For Think Tank&nbsp;<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a 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class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1954,"featured_media":623901,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-623899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lummis Hints Trump&#039;s Sovereign Wealth May Buy Bitcoin<\/title>\n<meta name=\"description\" content=\"Senator Cynthia Lummis calls Trump\u2019s new sovereign wealth fund EO a \u201cbig deal\u201d and hints it may buy Bitcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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