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Title: STEVE HANKE: A US BITCOIN STRATEGIC RESERVE = A STUPID IDEA.
Source: [None]
URL Source: https://citizenwatchreport.com/stev ... rategic-reserve-a-stupid-idea/
Published: Jan 7, 2025
Author: Horse
Post Date: 2025-01-07 20:36:16 by Horse
Keywords: None
Views: 781
Comments: 4

Steve Hanke @steve_hanke

A US BITCOIN STRATEGIC RESERVE = A STUPID IDEA.

Savings funneled into Bitcoin aren't building factories, creating jobs, or driving innovation.

https://twitter.com/i/status/1876297676842557734

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#1. To: Horse (#0)

???..... The exact same reasoning would say not to invest in gold or silver.

Pinguinite  posted on  2025-01-08   8:51:49 ET  Reply   Trace   Private Reply  

Gold and silver have been money for more than 6,000 years. Bitcoin has not.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2025-01-08   11:08:33 ET  Reply   Trace   Private Reply  

Gold and silver have been money for more than 6,000 years. Bitcoin has not.

The_Rock  posted on  2025-01-08   11:31:36 ET  (1 image) Reply   Trace   Private Reply  

The timelessness of metals was in no way part of his reasoning for rejecting the idea. It was simply based on the theory that if you hold bitcoin, no one can use the held bitcoin to do anything constructive. Seems he's comparing this to putting money in a savings account which allows the bank to loan it back out (15-20x over) to help the economy that way. THAT is his problem with bitcoin investments.

Pinguinite  posted on  2025-01-08   12:15:10 ET  Reply   Trace   Private Reply  

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