the U.S. government purchasing Bitcoin

Wyoming Senator Cynthia Lummis has suggested that Donald Trump's newly signed executive order to establish a national wealth fund could lead to the U.S. government purchasing Bitcoin. The order, signed on February 4, instructs Treasury Secretary Scott Basset and Commerce Secretary Howard Leuitic to initiate the fund's creation, which aims to "monetize the assets of the U.S. balance sheet" within the next year. While there was no direct mention of investing in cryptocurrencies, Lummis and Bitcoin advocate Vin Wahan speculate that the fund could include Bitcoin due to the favorable stance of Basset and Leuitic toward the cryptocurrency.
Trump's executive orders have faced criticism and legal challenges, including a recent instance where a federal judge blocked an order related to birthright citizenship. Alongside the wealth fund order, Trump also established a crypto task force and aims to halt the development of a U.S. central bank digital currency (CBDC).
The announcement of the national wealth fund coincided with fluctuations in Bitcoin's price, which temporarily fell below $100,000 before rebounding to over $101,000 following the news.
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