Former US Treasury Secretary: The US Bitcoin strategic reserve plan is too crazy, it's just catering to special interest campaign donors

Former US Treasury Secretary Lawrence Summers has dismissed the idea of the government setting up a Bitcoin reserve, calling it "too crazy" and merely pandering to special interest campaign donors. During Trump's campaign, he proposed that the government retain tokens, his allies also wanted to scale up to reduce national debt, and appointed cryptocurrency supporters as chairmen of the Securities Exchange Commission. Summers also said that Musk's plan to cut $2 trillion in spending is extremely difficult to achieve politically.