President-elect Donald Trump’s plan to create a strategic Bitcoin reserve has drawn criticism from former Treasury Secretary Larry Summers, who calls it “crazy” and portrays it as an attempt by special-interest groups to influence policy. The idea of a national Bitcoin reserve is seen as unnecessary and could destabilize the US dollar. Critics argue that using tax dollars to buy volatile assets like Bitcoin puts the government at risk, while supporters claim it could help reduce debt without raising taxes. Trump has defended his plan, citing geopolitical rivals’ potential move into the cryptocurrency space, but experts warn of the risks involved.
Source: https://fortune.com/crypto/2024/12/09/former-treasury-secretary-larry-summers-donald-trump-bitcoin-reserve-crazy