President-elect Donald Trump's proposal to create a national Bitcoin reserve has caused controversy, with former Treasury Secretary Larry Summers criticizing the idea as "crazy" and accused Trump of pandering to crypto industry donors. Summers argued that Bitcoin lacks tangible uses and strategic value, making the proposal impractical and unnecessary. The plan originated from promises made by Trump at a Bitcoin conference in July, where he claimed that a Bitcoin reserve was necessary to counter geopolitical rivals. Crypto-friendly Senator Cynthia Lummis has introduced a bill supporting the initiative, proposing the purchase of 1 million Bitcoins over five years, which would cost around $100 billion at current market prices. Proponents argue that the reserve could reduce national debt and strengthen the dollar by diversifying government assets.



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