Former US Treasury Secretary Lawrence Summers has dismissed the idea of a national Bitcoin reserve, calling it “crazy”. He also warned about the challenges in reducing federal spending. Summers agrees that regulation might have been over-zealous and panned Donald Trump’s ally Elon Musk’s plan to scale down government spending using cryptocurrency.
Source: https://www.bloomberg.com/news/articles/2024-12-05/summers-blasts-us-national-bitcoin-reserve-idea-as-crazy