U.Today – Steve Hanke, a top US economist and professor of applied economics at Johns Hopkins University in Baltimore, discussed the idea that the US government could create a strategic reserve in the coming years in a recent interview. He said he didn’t like it.
Hanke is known to be a vocal opponent of Bitcoin, frequently criticizing the world’s largest cryptocurrency on his X social media account.
US Bitcoin reserves are Hanke’s ‘stupidest idea’
In a recent post on I shared it.
A prominent US economist said exchanging government savings for Bitcoin would have a “negative impact on the economy” because it would not be invested in “real capital assets that produce things”. He compared buying Bitcoin to buying a painting by a master. Such investments are not invested in bankable projects that actually produce anything, he said.
“They do not increase the productivity of the economy,” the expert stressed, but improving productivity is critical to improving living standards and prosperity in any economy. Hanke emphasized that he is “totally opposed” to the possibility of a Bitcoin strategic reserve in the United States, calling it “the stupidest idea.”
In a tweet accompanying an excerpt of the video, Hanke reiterated his thoughts, saying, “Savings poured into Bitcoin can be used to build factories, create jobs, and fuel innovation. It’s not something I’d like to do,” he wrote.
Hanke calls crypto holders “psychopaths”
Last year, Steve Hanke published an X-post in which he called crypto holders psychopaths. Hanke cited the results of a psychological study conducted in Canada by researchers at the University of Toronto.
The study found that crypto holders had lower analytical and scientific thinking skills and were “more likely to exhibit psychotic symptoms than the general population,” Hanke summarized.
To complete the study, the researchers surveyed approximately 2,000 Americans. They revealed that crypto holders tend to exhibit “dark” personality traits, also known as the “dark tetrad”: narcissism, Machiavellianism, psychopathy, and sadism.
This article was originally published on U.Today
