US President Donald Trump signed an executive order on Monday afternoon directing the treasury and trade sections to create a sovereign wealth box, which represents a step towards building a national stock.
Donald Trump and national coding stocks ordered
Although Bitcoin was not mentioned during the signature, this fund could be, in theory, as a step to the government’s purchase of the encrypted currency. Speaking from the Oval Office alongside Trump, Treasury Secretary Scott Besent, who at least showed a bound interest in encryption, participated that he is expected to form the sovereign wealth fund next year.
Meanwhile, the candidate of Trade Minister Howard Lootnick was a strong advocate of the encryption industry. Lutnick, Cantor Fitzgerd, works as a shower in Tether’s Tether Goovern Bond Holdings, and has publicly discussed his great personal investments in Bitcoin (BTC).
After signing news, Bitcoin witnessed a significant increase, reaching $ 99,600. Currently, Bitcoin is trading at 101,648.58 dollars after an increase of more than 4.5 % last day.
With the presence of many factors including Trump’s tariff policy, the highly rapprochement of the liquidation, bitcoin and other cryptocurrencies witnessed a severe ride until yesterday. However, currently, the maximum coded currency market today is $ 3.49 trillion, which is a 2.2 % change in the past 24 hours. As for liquidation, this also decreased with an important personality. During the past 24 hours, 509,259 traders have been filtered, and as a result, the total references amounted to $ 1.70 billion.
Also read: Donald Trump’s Crypto Czar David Sacks to hold a press conference tomorrow
