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Trump signs the establishment of a sovereign wealth fund, which can buy TikTok and vaccines for the benefit of the American people
President Donald Trump signed an executive order instructing officials to establish a sovereign wealth fund for the United States, led by Treasury Secretary Scott Bessent and nominee for Secretary of Commerce Howard Lutnick, and will submit a plan within 90 days.
What is a sovereign wealth fund?
Sovereign Wealth Fund (Sovereign Wealth Fund) is a fund owned or controlled by a government or government, usually formed by the country's foreign exchange reserves, trade surplus or other resources. The purpose of these funds is to invest in the long-term economic interests of the country and reduce dependence on specific resources through diversified investments.
Previously, Chain News reported that the Norwegian Sovereign Wealth Fund indirectly held 3,821 bitcoins through stocks such as MicroStrategy. The fund is managed by Norges Bank Investment Management, a subsidiary of the Central Bank of Norway, with the aim of long-term management of Norway's oil and gas revenue to ensure that this wealth can benefit current and future generations.
The Norwegian Sovereign Wealth Fund indirectly holds 3821 bitcoins through stocks such as MicroStrategy (
Sovereign wealth funds can be used to buy TikTok and vaccines.
According to Bloomberg, Trump signed the行 in the Oval Office with Bensenet and Lutnick on Monday.