Golden Finance reported that former U.S. Treasury Secretary and Democrat Lawrence Summers refuted the idea of ​​the U.S. government setting up a Bitcoin asset reserve and warned that reducing federal spending in accordance with the plan of "America's No. 1 Brother" Musk will face political challenges. “The idea that some people are saying, ‘We should have some sort of national Bitcoin reserve,’ is crazy,” Lawrence Summers said on the TV show. “There’s no reason to do that other than catering to generous special interest campaign donors. "The former Treasury Secretary said that although Musk's goal is to save $2 trillion in expenses, the salary of the entire federal government is less than this amount. He emphasized that much of the government's spending is related to defense and support for America's seniors, which is politically difficult to change.