On February 3, President Trump announced plans to create a U.S. sovereign wealth fund, a national investment vehicle designed to generate and distribute assets to American citizens.

Trump signed an executive order at a White House event directing Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, both of whom support cryptocurrency, to “begin a process that we hope will lead to the creation of an American sovereign wealth fund.”

“We’re going to create a great wealth fund,” Trump told reporters, then added, “And I think it’s time for this country to create a sovereign wealth fund.”

The fund “will be a combination of liquid assets, assets that we have in this country, and we’re working to make them available to the American people,” Bessent said, adding that the fund will be created within the next 12 months, NBC reported.

The fund could potentially be used to acquire strategic assets, such as a potential takeover of Chinese social media platform TikTok, Lutnick hinted. It could also use the U.S. government’s massive purchasing power to obtain equity in companies.

“The extraordinary size and scale of the U.S. government and the business it does with companies … should create value for American citizens,” Lutnick said. Other countries with large sovereign wealth funds include Norway, China, Saudi Arabia, Australia, Iran, and Russia.

In response to the news, Wyoming Senator Cynthia Lummis hinted that the fund could also buy Bitcoin.

However, if the fund does include BTC, the funds would likely come from existing U.S. reserves rather than being purchased additionally.

According to Blockchain.com, the FBI-owned address linked to the Silk Road arrests still contains 69,370 BTC, worth about $6.8 billion at current market prices. According to BiTBO, total US assets exceed 207,000 BTC, worth over $20 billion.

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