Hanke is known as a vigorous Bitcoin opponent who frequently criticizes the world’s largest cryptocurrency on his X social media account.
The prominent U.S. economist said that converting government savings into Bitcoin would put “a drag on the economy” since those savings would not be invested in “real capital assets that produce things.” He compared buying Bitcoin to buying paintings made by Old Masters. Such investment would not be invested in any bankable projects that actually produce anything, he said.
“They would not increase productivity and so forth in the economy,” the expert stressed, while it is very important to increase productivity in order to improve standards of living and prosperity in any economy. Hanke underscored that he is “completely opposed” to a potential Bitcoin strategic reserve in the U.S., calling it “the stupidest idea.”
And in the tweet that accompanies the video extract, Hanke wrote, emphasizing his thought again: “Savings funneled into Bitcoin aren’t building factories, creating jobs, or driving innovation.”
The study claimed that cryptocurrency holders have low analytic and scientific thinking and they are “likelier to exhibit psychopathy than the general population,” Hanke summarized.
For completing the study, the researches polled roughly 2,000 Americans. They revealed that crypto holders are inclined to display “dark” personality characteristics, also known as the “Dark Tetrad”: narcissism, Machiavellianism, psychopathy and sadism.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
