PANews reported on February 5 that according to The Block, at a joint press conference in Washington with leaders of key congressional committees on Tuesday, President Donald Trump's newly appointed "head of cryptocurrency affairs" David Sacks outlined the new government's broad pro-cryptocurrency agenda. When asked about the role of cryptocurrency in the recently proposed U.S. sovereign wealth fund, Sacks revealed that evaluating potential Bitcoin reserves is a top priority for a working group within the government.

"We are still waiting for some cabinet secretaries on the working group to be confirmed, but once they are confirmed, one of our first tasks will be to assess the feasibility of Bitcoin reserves," Sacks said in response to reporters' questions. He added that sovereign wealth funds are a different concept and Trump's nominee for Commerce Secretary Howard Lutnick will be in charge of the matter.