The President of the United States, Donald Trump, signed an executive order to form a sovereign wealth fund. This step triggered speculation in the crypto industry because of the government's support for digital assets.
Flexa CEO, Danny McCabe, revealed to TheStreet Crypto, it is very possible that the state wealth fund will include Bitcoin (BTC) and perhaps other US-made digital assets that provide true economic utility, such as Ether.
This not only provides an increase in stability to the US economy, but also becomes a big leap in making the US a leader in the digital asset sector.
To form a state wealth fund that is signaled to manage more than US$13 trillion or around Rp212,420 trillion takes up to 12 months, and several pro-crypto Cabinet members are involved in this effort, including Treasury Secretary Scott Bessent and US Secretary of Commerce candidate Howard Lutnick.
The country's own wealth fund has been used by rich countries such as Norway, Kuwait, Saudi Arabia, and Qatar to reinvest excess funds, advance strategic priorities, diversify national assets, and ensure long-term economic stability.
Crypto Leaders' Response to State Wealth Funds
One of the co-founders of Omni Network, Austin King, said, the state wealth fund can offer the Trump administration a way that is not too difficult to gain exposure to cryptocurrencies.
"It is possible that this fund is used to buy Bitcoin and other cryptocurrencies that are considered important to turn America into a crypto power center," said King.
According to Ishmael Green, a crypto lawyer at the international law firm Diaz Reus, Trump has hinted at this over the past few months.
"This will definitely happen, because Trump controls half a billion dollars of cryptocurrencies, including Bitcoin and Ethereum worth several hundred million dollars," he said.
Crypto Risk in State Wealth Fund
But some experts highlight the risk of including crypto into the state wealth fund.
According to the Head of Product at the crypto custody of Fortress Trust, Mauricio Mondragon, the volatility of crypto and unclear regulations make it difficult to sell for government-backed investments.
If that happens, the biggest challenge is to find a way to store and manage assets safely, avoid political influence, and ensure that they comply with existing regulations.
If the US moves forward with this plan, the US will join other countries that have been involved in the practice.
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