Former U.S. Treasury Secretary: The U.S. Bitcoin strategic reserve plan is too crazy and only caters to special interest campaign donors
ChainCatcher news, according to Bloomberg, former U.S. Treasury Secretary Lawrence Summers dismissed the idea of the government establishing a Bitcoin asset reserve, calling it "too crazy" and merely catering to special interest campaign donors.
During his campaign, Trump proposed that the government retain tokens, and his allies wanted to scale up to reduce the national debt, as well as appoint a cryptocurrency supporter as the SEC chairman. Summers also stated that Musk's plan to cut $2 trillion in spending is politically very difficult to achieve.
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