Updated on:12/21/2025 04:31 PM 
Former U.S. Treasury Secretary Larry Summers has strongly criticized the concept of establishing a national Bitcoin (BTC) reserve, describing it as "unwise" in a recent interview with Bloomberg. While Summers acknowledges the rationale behind strategic commodity reserves like oil and gold, he questions the applicability of this approach to cryptocurrency.
These remarks come amid growing speculation about President-elect Donald Trump's Crypto Advisory Council potentially implementing a "Strategic Bitcoin Reserve" initiative. The proposal for a national Bitcoin reserve first gained prominence during the Bitcoin 2024 conference earlier this year, where both Trump and Robert F. Kennedy Jr. delivered keynote addresses. Notably, Senator Cynthia Lummis (R-WY) introduced the "Bitcoin Act" legislation at the event, formally proposing the creation of such a reserve.
The movement toward establishing Bitcoin reserves is extending beyond theoretical discussions, with lawmakers and political figures worldwide increasingly embracing the concept. Dennis Porter, founder of the Satoshi Act Fund, recently disclosed ongoing discussions with Texas state officials about introducing legislation for a strategic Bitcoin fund.
In a parallel development, on November 14, Representative Mike Cabell introduced a bill proposing the creation of a BTC reserve in Pennsylvania, utilizing the state's $7 billion fund. Porter indicated that Texas and Pennsylvania represent just the beginning, suggesting that up to ten additional U.S. states may implement similar measures before year's end. These state-level initiatives appear aimed at establishing Bitcoin reserves ahead of potential federal action under the Trump administration.
The trend is not limited to the United States. A Brazilian lawmaker has proposed legislation, introduced on November 26, that would establish a Bitcoin reserve with potential allocations of nearly $19 billion in BTC. Similarly, Poland's libertarian presidential candidate, Sławomir Mentzen, has advocated for allowing the country to hold Bitcoin as part of its strategic reserve assets.
The growing interest in Bitcoin as a reserve asset reflects the evolving conversation around cryptocurrency's role in national financial strategies, despite reservations from some established financial leaders like Summers.
