President Donald Trump's child investment scheme has secured more than $6 billion in private backing from technology leaders, as he hinted that Bitcoin-linked contributions to 'Trump Accounts' could be on the horizon, saying 'something could happen' when asked about the cryptocurrency's role in the programme.
The comments came as the initiative received major private-sector backing from technology leaders, including a $6.25 billion commitment from Michael and Susan Dell and a pledge from SpaceX President Gwynne Shotwell and her husband involving a share of SpaceX stock.
Bitcoin Inclusion Remains Unconfirmed
Trump did not announce any changes to the programme's investment options after being asked whether Bitcoin could become part of Trump Accounts. Instead, he used the question to argue that cryptocurrency has become strategically important for the United States in its competition with China.
Trump Accounts currently invest in low-cost, diversified US equity index funds and do not include Bitcoin or other cryptocurrencies among their approved investment options. Any move to add digital assets would require changes to the programme's existing investment guidelines.
The programme was launched with an emphasis on broad market index investing rather than individual securities or alternative assets. By contrast, Bitcoin and other cryptocurrencies are generally regarded as higher-risk assets because of their price volatility.
Trump's remarks instead focused on the prospect of contributions from figures in the crypto industry rather than changes to how Trump Accounts are invested.
Tech Titans Pledge Billions To Trump Accounts
Trump Accounts received major backing from technology leaders, with Michael and Susan Dell committing $6.25 billion and SpaceX President Gwynne Shotwell announcing a contribution involving a share of SpaceX stock.
The Dells said the contribution would provide an additional $250 investment for up to 25 million eligible children born between 2016 and 2024, extending support to children who were not included in the programme's initial government contribution.
'Susan and I didn't want the children that were born just before to be completely left out, so we are contributing $6.25 billion, $250 to 25 million eligible American children,' Dell said.
Shotwell said she and her husband would gift a share of SpaceX stock to Trump Accounts for more than two million children aged 11 to 17, with priority given to those in areas with lower average household incomes.
'We have been fortunate in our careers and hope this gift encourages the next generation to continue the journey of enabling humanity to live and fly amongst the stars,' Shotwell said.
Trump Hints At Future Crypto-Linked Gifts
Trump suggested further contributions could come from wealthy business leaders, including figures from the crypto industry.
'I think something could happen in that regard too with a contribution to the people of our country,' Trump said when discussing crypto's potential connection to Trump Accounts. He added, 'I think you're going to see a contribution made by those because they're making tremendous amounts of money.'
Asked whether he had spoken with Elon Musk about further share donations, Trump said he regularly speaks with leading technology executives. 'I'm like a cheerleader for geniuses. I love geniuses,' Trump said, adding that he speaks with executives including Musk, Mark Zuckerberg and Jeff Bezos. 'I speak to all of them, and I encourage them,' Trump added.
Trump did not announce any additional commitments from cryptocurrency figures or other companies, but said he expected further support for the programme.
The programme's announced private-sector backing currently comes from figures including the Dells and Shotwell, while the role of digital assets in Trump Accounts remains unclear.
