U.Today – Steve Hanke, a prominent American economist and professor of applied economics at Johns Hopkins University in Baltimore, said in a recent interview that he did not like the idea of the US government potentially creating a strategic reserve over the next few years.
Hanke is known as a vigorous opponent of Bitcoin who frequently criticizes the world’s largest cryptocurrency on his social media account X.
US Bitcoin reserve is ‘the stupidest idea’ according to Hanke
In a recent summer 2024.
The prominent US economist said converting government savings into Bitcoin would “hold back the economy” since those savings would not be invested in “actual capital assets that produce things”. He compared buying Bitcoin to buying paintings by old masters. Such investment would not go into bankable projects that would actually produce anything, he said.
“They would not increase productivity, etc. in the economy,” the expert stressed, while it is very important to increase productivity to improve living standards and prosperity in any economy. Hanke stressed that he was “totally opposed” to a possible strategic Bitcoin reserve in the United States, calling it “the stupidest idea.”
And in the tweet that accompanies the video clip, Hanke wrote, emphasizing his thoughts again: “Economies channeled into Bitcoin don’t build factories, create jobs, or drive innovation. »
Hanke calls crypto holders “psychopaths”
Last year, Steve Hanke published an article in which he called crypto holders psychopaths. Hanke discussed the results of a psychological study conducted in Canada by researchers at the University of Toronto.
The study claims that cryptocurrency holders have poor analytical and scientific thinking and are “more likely to exhibit psychopathy than the general population,” Hanke summarized.
To complete the study, researchers interviewed around 2,000 people…
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