Larry Summers: National Bitcoin Reserve ‘Crazy’
Posted On December 8, 2024
Former Treasury Secretary Larry Summers has dismissed the idea of a national Bitcoin (CRYPTO: BTC) reserve as “crazy” amidst ongoing deliberations in Congress and the crypto industry.
What Happened: In an interview with Bloomberg on Friday, Summers voiced his doubts about the feasibility of a national bitcoin reserve. He opined that although he feels cryptocurrencies have been excessively regulated, the concept of a national bitcoin reserve doesn’t hold water.
“There are probably respects in which crypto has been over-regulated by overzealous regulators. But some of what is being said, this idea that we should have some kind of national bitcoin reserve, is crazy,” Summers told the outlet.
While President-elect Donald …
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