Bitcoin

Lawrence Summers, former U.S. Treasury Secretary, has strongly rejected the idea of the government creating a Bitcoin reserve. Speaking on Bloomberg Television’s Wall Street Week, Summers called the <a href="https://www.bloomberg.com/news/videos/2024-12-05/summers-calls-idea-of-a-national-bitcoin-reserve-crazy" rel="noopener noreferrer nofollow">proposal</a> “crazy” and said it was mainly intended to appease political donors. He argued there is no good reason for the government to hold Bitcoin as an asset.Trump&#39;s Bitcoin ProposalThe idea gained traction after President-elect Donald Trump suggested that the government keep Bitcoin tokens seized from criminals. These tokens, estimated at around <a href="https://intel.arkm.com/explorer/entity/usg" rel="noopener noreferrer nofollow">200,000</a>, have increased in value. Some of Trump’s allies have proposed expanding this reserve to help reduce the national debt, hoping Bitcoin’s price will continue to rise.<a href="https://cryptotale.org/why-lawrence-summers-calls-bitcoin-reserve-crazy-report/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Why Lawrence Summers Calls Bitcoin Reserve “Crazy”: Report

CryptoTale

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