Scott Bessent to Divest BlackRock Bitcoin ETF Before Trump's Inauguration..Details 👇🏼
$BTC ❤️🔥Conclusion❤️🔥
Scott Bessent, the billionaire hedge fund manager and nominee for Treasury Secretary, is set to divest assets, including his stake in BlackRock’s Bitcoin ETF (IBIT), before President-elect Donald Trump’s inauguration. Federal ethics guidelines mandate nominees to sell specific holdings within 90 days of Senate confirmation to avoid conflicts of interest. Bessent's portfolio, worth around $521 million, includes various assets like U.S. Treasury bills, SPDR S&P 500 Trust (SPY), and commodities. Despite plans to divest from most holdings, uncertainty looms over the fate of IBIT. Speculation arose after a tweet from Mathew Sigel questioned the need for divesting IBIT. Trump praised Bessent's financial expertise and investment success, aiming for a prosperous future under his guidance. Bessent's confirmation hearing is slated for January 16, preceding Trump's presidency, where he could influence economic policies, including crypto adoption.💵
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