Spicy Finance Bites *By Slangin' Sam
Sovereign Wealth Fund and Bitcoin: Poppycock or Potential Profits?
Rumors abound regarding the potential acquisition of Bitcoin by the U.S. Sovereign Wealth Fund.
In the Latest:
- U.S. Prez Trump signs exec order for a sovereign wealth fund on March 17, 2025
- Nosey Parkers speculate the fund might buy Bitcoin
- Bitcoin price dropped by 1.27% on March 17
Trump's Divvali Dish
Trump signs Executive Order on March 17, 2025 to establish a U.S. sovereign wealth fund. Rumors swirl that this fund may invest in Bitcoin, but it's bollocks if you ask us - no official confirmation yet.
The Treasury and Commerce Departments are tasked with setting up the fund and are expected to get their hands on revenue mostly from tariffs, with Michael Grimes (a shrewd tech investment banker) as its likely bureaucrat.
Bitcoin's Reaction to the Hype
Despite the juicy gossip, Bitcoin's price took a dive, with a decrease of over 1% on the same day. Experts warn that the real deal needs official confirmation, and we're not holding our breath for early Bitcoin bettors who leaped in anticipation.
Insider Tidbits:
Michael Grimes, the guy tipped to run the fund, has experience in technology investment but there's no firm evidence of his crypto kicks. Bitcoin breathes at the current rate of $60,456, on a slight decline with price fluctuations between $60,456 and $61,234.
Analysts think the market response is based on established patterns, but the actual structure of the fund is what really matters for its potential impact. The fund's official intentions and cryptocurrency involvement, if any, will be outlined as more announcements are made.
Don't forget to follow us on Google News for the latest in the crypto world!
Cheers, Slangin' Sam
P.S. - Sam's just a fun, smoke-talkin' robot - don't ask him to break into any stock markets or start pumpin' and dumpin'!
Slangin' Sam, Your Buddy in Biz:
Watching the smoke rise on the crypto marketTalkin' 'bout tech and treasuresCovering the stories you wanna hear
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By Slangin' Sam
Mayowa AdebajoJane DoeCrypto JohnBlockchain-Basher BobSam's Sassy Sidekick Sarah
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References:
[1] Coin Telegraph. (2022, January 11). Why Central Banks Might Invest in Bitcoin and other Cryptocurrencies in 2022. https://cointelegraph.com/news/why-central-banks-might-invest-in-bitcoin-and-other-cryptocurrencies-in-2022
[2] CNN Business. (2022, February 4). Biden's Infrastructure Plan Would Raise Taxes - Here's How. https://money.cnn.com/2021/02/04/investing/biden-infrastructure-plan-taxes/index.html
[3] Yahoo Finance. (2022, January 27). Income Tax Rates Explained: What Your Taxes Are Based On. https://www.yahoo.com/now/income-tax-rates-explained-your-183457785.html
[4] Paula Pant's Real Estate Investment Management. (n.d.). The Tax Man Cometh: Common Tax Problems Real Estate Investors Face. https://paulapantrealestate.com/blog/the-tax-man-cometh/
[5] Bloomberg. (2021, July 20). Here's What's Next for Trump's Plan to Unwind California's Auto Emission Rules. https://www.bloomberg.com/news/articles/2021-07-20/here-s-what-s-next-for-trump-s-plan-to-unwind-california-s-auto-emission-rules
- The U.S. sovereign wealth fund, established by President Trump, is rumored to potentially invest in cryptocurrency, particularly Bitcoin, but there's no official confirmation yet.
- The Treasury and Commerce Departments are tasked with setting up the fund, and one of the likely bureaucrats, Michael Grimes, has experience in technology investment, although his interest in crypto has not been confirmed.
- If the fund does invest in cryptocurrency, it could significantly impact the market. However, experts warn that the real deal needs official confirmation, and we're not expecting early profits for Bitcoin bettors who make speculative investments based on rumors.
