Jinshi: Rumors in the cryptocurrency circle suggest that Trump may use sovereign funds to buy Bitcoin

PANews reported on March 17th, according to Jinshi, that US President Trump previously signed an executive order instructing the US Treasury and Commerce Departments to establish a sovereign wealth fund within the next 12 months. The fund will be managed by former Morgan Stanley tech investment banker Michael Grimes, with its main source of funding expected to come from tariffs. Currently, there are rumors in the cryptocurrency circle that Trump may use the sovereign wealth fund to purchase Bitcoin. Despite this, Bitcoin not only did not get a boost on the 17th but even fell more than 1% during trading.