It is said that the state of Florida plans to launch a strategic Bitcoin reserve in the first quarter of next year. The president of the Florida Blockchain Business Association said that the reserve may be established during the legislative session.
When Trump was campaigning, he proposed that the government keep the token, and his allies wanted to expand it to reduce the national debt.
But there are also dissenting voices. Former U.S. Treasury Secretary Lawrence Summers refuted the idea of the government setting up Bitcoin asset reserves, saying it was "too crazy" and would only cater to special interest campaign donors. Musk's plan to cut $2 trillion in spending would be politically difficult to achieve.
