President Donald Trump is confident that a Bitcoin reserve will become a reality in the United States in the not-too-distant future. However, many experts remain skeptical about the successful implementation of this idea. Only time will tell who was right. Recently, David Sacks, appointed as the "crypto czar" in Trump’s administration, confirmed the White House’s interest in integrating Bitcoin into the US financial system.
At a press conference in Washington, Sacks emphasized the pro-crypto stance of Trump’s administration. He also discussed the possibility of creating a Bitcoin reserve as part of a US sovereign wealth fund.
Previously, Sacks had stated that cryptocurrencies would play a leading role in the new national wealth fund. He highlighted that integrating Bitcoin into the US financial system is a key priority for the administration’s working group.
According to Sacks, while the sovereign wealth fund and the Bitcoin reserve are separate concepts, the administration is actively exploring the role of digital currencies in public finance. This announcement followed Trump’s executive order to establish a sovereign wealth fund, designed as a federal investment tool to increase government revenues through strategic investments. One of these assets could be Bitcoin.
Earlier, President Trump expressed interest in using the fund to acquire strategic assets, including a potential purchase of the social media platform TikTok.
According to James Butterfill, Head of Research at CoinShares, the idea of including Bitcoin in the fund is both logical and a "reasonable move." Butterfill believes that US authorities could benefit from investing in assets like Bitcoin to address national debt issues and create new revenue streams. He suggests that the sovereign wealth fund could serve a "dual purpose", functioning both as an investment vehicle and a strategic reserve for Bitcoin.
