The newly appointed David Sachs, “Crypto CZAR”, “Crypto CZAR”, participated in the pro -profit management agenda with multiple Saudi statements. While addressing the leaders of the Congress Committee, Sacks stated that Bitcoin’s evaluation as part of the proposed sovereign wealth fund is a top priority.
“We are still waiting for some cabinet secretaries to confirm the working group,” Sachs said during a press conference. “But as soon as it is in place, one of our first steps is to assess the feasibility of the Bitcoin Reserve.”
Now: David Sachs Chefer Trump says, “It is possible that the sovereign wealth box can decide that they want to make Bitcoin or digital assets part of his wallet” – CNBC. pic.twitter.com/27sfalv94v
Bitcoin (bebtc_archive) archive) February 4, 2025
Will Bitcoin get a place in SWF?
This statement is also important, as on Monday, US President Donald Trump signed an executive order to create a sovereign wealth fund. The Sovereign Resources Fund (SWF) is a state -owned investment fund consisting of funds created by the government of a country or derived from the surplus revenue, including stocks, bonds, property or other assets. This federal investment car seeks to enhance government revenues through strategic asset investments. If Bitcoin gets this SWF place, it may benefit the complete encryption market.
As stated earlier, “One of the things that the president ordered to do is evaluating the idea of bitcoin reserves. So, this is one of the things that our internal management group will look. This is the first thing we will evaluate the Bitcoin reserve feasibility.”
In the past few days, World Crypto has received good news from American officials, from the formation of the encryption squad to the appointment of pro -profit candidates to the highest positions of federal agencies. This confidence in the encryption market has strengthened, however, BTC on a re -test journey fell to less than $ 100,000.
Also read: Crypto CZAR: Bitcoin Reserve Bags
