Former US Treasury Secretary Lawrence Summers dismissed the idea of the government setting up a reserve of Bitcoin assets, and cautioned about the political challenge ahead in scaling down federal spending in the way billionaire and President-elect Donald Trump ally Elon Musk plans.
“Some of what is being said — this idea that we should have some kind of national Bitcoin reserve — is crazy,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. “There’s no reason to do that other than to pander to generous special-interest campaign contributors.”
