Former Treasury Secretary Larry Summers says Trump's idea to create a national Bitcoin reserve is 'crazy'

[Yo_Mama_Been_Loggin]

President-elect Trump’s latest Bitcoin play is a proposed national reserve of the cryptocurrency, but one critic said the plan could be viewed as pandering to special-interest campaign contributors from the crypto industry.

President-elect Donald Trump’s plan to create a strategic Bitcoin reserve has drawn criticism from former Treasury Secretary Larry Summers.

Summers, who as treasury secretary in the Clinton administration oversaw the U.S. national gold reserve, said in an interview with Bloomberg TV that the idea of creating a national Bitcoin reserve, akin to that of gold or oil, is “crazy,” and would serve no clear purpose.

“This idea that we should have some kind of national Bitcoin reserve is crazy,” Summers said.

https://www.msn.com/en-us/money/markets/former-treasury-secretary-larry-summers-says-trump-s-idea-to-create-a-national-bitcoin-reserve-is-crazy/ar-AA1vygKN

Yes, it is crazy but it's Trump we're talking about.

[Jit423]

1. I bet Trump wants to buy up all the gold using Bitcoin.

That's how he thinks.

[rich7862]

2. This is 2024 and this

crazy idea to subsidize bit coin with taxpayer money, is nuts. 100 years ago was the beginning of the 1929 depression. It began and crashed in 1929. See the resemblance to bitcoin 2024, tax cuts for the oligarchy and the trump empire destroying our economy. History repeating itself.

The re thugs caused the 1924 depression and they are about to do it again.

[keithbvadu2]

3. Spending our country's real gold and real money on this fictional crypto currency leaving the taxpayers holding crap.

[mymomwasright]

4. There is a dumb proposal for a 20 year block on a payout for that reserve

From what previous reports have suggested, backed by gold, this amounts to theft.

[Diraven]

5. The only purpose

Is to drive up the price of Bitcoin (or TrumpCoin probably)

[lostnfound]

8. It may also be intended to crash the dollar. Nt

[Baitball Blogger]

6. ENRON, ENRON, ENRON, ENRON

https://www.tiktok.com/@minions/video/7286164636980792622?lang=en

[keithbvadu2]

7. How much of his billion$ of Saudi money is Jared investing in this crypto for the long term?

All who vote for such garbage should be required to invest 50% of their life savings into the same crypto long term.