President Donald Trump signed an executive order on February 3, calling for the creation of a sovereign wealth fund.<\/strong>\u00a0<\/p>\n This follows his previous order establishing a national digital asset stockpile, signaling an increased focus on strategic financial reserves.<\/p>\n The executive order directs the Secretary of the Treasury and the Secretary of Commerce to devise a comprehensive plan within 90 days for creating the fund.\u00a0<\/p>\n \u201cThe United States can leverage such returns to promote fiscal sustainability, lessen the burden of taxes on American families and small businesses, establish long-term economic security<\/a>, and promote US economic and strategic leadership internationally,\u201d the order<\/a> read.<\/p>\n<\/blockquote>\n For context, sovereign wealth funds are state-owned investment funds that manage surplus reserves. These are typically sourced from trade surpluses, commodity revenues, or fiscal excesses.\u00a0<\/p>\n These funds are invested in a diverse range of assets<\/a>, including stocks, bonds, real estate, and infrastructure, both domestically and internationally. The goal is to ensure long-term financial stability and economic growth.<\/p>\n Although the executive order did not explicitly mention Bitcoin (BTC)<\/a> or other cryptocurrencies, the announcement sparked enthusiasm among Bitcoin advocates because of Senator Cynthia Lummis\u2019 response. Lummis, a well-known advocate for the Strategic Bitcoin Reserve<\/a> and chair of the Senate Banking Sub-committee on Digital Assets Committee<\/a>, reacted to the news on X (formerly Twitter).<\/p>\n \u201cThis is a \u20bfig deal,\u201d she posted<\/a>.<\/p>\n<\/blockquote>\n Her use of the \u201c\u20bf\u201d symbol fueled hopes of Bitcoin\u2019s inclusion in the fund.<\/p>\n \u201cAfter Trump signs the order, US will buy Bitcoin<\/a> for sovereign wealth fund and they will call it as strategic Bitcoin reserves,\u201d one user replied<\/a> on X.<\/p>\n<\/blockquote>\n Notably, the market odds of Trump establishing a Bitcoin reserve in the first 100 days on the prediction platform Polymarket improved to 18% after the order. The odds plummeted from 48% on Inauguration Day to 13% by February 1.<\/p>\n Trump\u2019s earlier executive order on the digital asset stockpile<\/a> also broadly defined \u201cdigital assets\u201d without explicitly mentioning Bitcoin.<\/p>\n \u201cThe term \u201cdigital asset\u201d refers to any digital representation of value that is recorded on a distributed ledger, including cryptocurrencies, digital tokens, and stablecoins,\u201d the order<\/a> stated.<\/p>\n<\/blockquote>\n Meanwhile, amid the speculation, several US states are advancing their own cryptocurrency initiatives<\/a>. Oregon, New Jersey, Mississippi, and Indiana have recently introduced bills to foster crypto adoption and regulatory clarity.<\/p>\n Oregon\u2019s HB2071<\/a> grants blockchain users specific rights. It prevents state and local governments from restricting digital asset activities. It also exempts certain blockchain transactions from the Oregon Money Transmitters Act.<\/p>\n New Jersey Assembly Bill 2249<\/a> (Digital Asset and Blockchain Technology Act) establishes a regulatory framework for digital asset businesses and creates a Digital Asset Enforcement Fund for oversight.<\/p>\n Mississippi\u2019s HB 1590<\/a> (Blockchain Basics Act) prohibits state and local governments from implementing central bank digital currency (CBDC) and safeguards self-custody rights. It also exempts crypto transactions under $200 from capital gains tax<\/a> and removes licensing requirements for mining and staking operations.<\/p>\n Indiana House Bill 1156<\/a> protects the right to use, store, and accept digital assets. It prevents local restrictions on crypto transactions and ensures digital asset mining is classified as a permitted industrial activity.<\/p>\n Indiana has also previously introduced House Bill 1322<\/a>, which promotes blockchain adoption and Bitcoin investment strategies.<\/p>\n Disclaimer<\/p>\n In adherence to the Trust Project<\/a> guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our\u00a0Terms and Conditions<\/a>,\u00a0Privacy Policy<\/a>, and\u00a0Disclaimers<\/a>\u00a0have been updated.<\/p>\n<\/div><\/div>\nBitcoiners Eye Trump\u2019s Sovereign Wealth Fund<\/h2>\n
\n
\n
\n
![\"bitcoins](\"https:\/\/beincrypto.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-04-at-2.46.33\u202fPM-1.png\")
\n
Crypto Momentum Grows at State Level<\/h2>\n