Steve Hanke Calls El Salvador’s President “Stupid” For Making Bitcoin Legal T...

Steve Hanke Calls El Salvador’s President “Stupid” For Making Bitcoin Legal T...

Steve Hanke has condemned the legalization of Bitcoin in El Salvador. The economist believes the decision will “completely collapse” El Salvador’s economy. He called the move “stupid.” His reasoning around this being that El Salvador is a dollarized nation and making Bitcoin legal tender would be detrimental to the economy. Professor Hanke was on Kitco […]


Related News

Top Economist Calls Bitcoin As Legal Tender “Stupid”. Here’s Why He’s Wrong.

Let’s not kid ourselves, a person like Steve Hanke has enormous incentives to defend the status quo. He’s benefited tremendously from it. It could be argued that his livelihood depends on Bitcoin failing. A project to make it legal tender in any country goes directly against Hanke’s interests, and it’s no wonder he spoke against […]

Steve Hanke warns BTC could 'completely collapse the economy' of El Salvador

Steve Hanke slammed El Salvador’s Bitcoin adoption as legal tender, and questioned how Bitcoin would function in day-to-day transactions. Steve Hanke, a professor of applied economics at Johns Hopkins University, has warned that El Salvador’s recent adoption of Bitcoin (BTC) as legal tender has the potential to “completely collapse the economy.” Steve Hanke served as a senior economist under President Ronald Reagan administration from 1981 to 1982. Hanke has previously described BTC as a speculative asset “with a fundamental value of zero,” and in April the 78-year-old tweeted....

Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Col...

The professor of applied economics at Johns Hopkins University, Steve Hanke, has recently been criticizing bitcoin adoption taking place in El Salvador. Hanke doesn’t think it’s a good idea for the Latin American country to use bitcoin as legal tender and says it could “completely collapse the economy.” Steve Hanke Wants Countries to Adopt Currency Boards Instead of Gravitating Toward Bitcoin Adoption The American economist Steve Hanke knows a lot about currencies, as he is the Cato Institute’s senior fellow and director of the Troubled Currencies Project.....

Prominent Economist Warns Of International Sanctions Over El Salvador’s Bitco...

U.S economist Steve Hanke gives notice on El Salvador’s Bitcoin law by saying it could be a trigger for international sanctions against the Central American country. It’s no secret Hanke is an avid objector to the leading cryptocurrency. He recently called the move to make Bitcoin legal tender in the country “stupid.” He also said […]

This Is Hilarious: Bitcoin Denier Steve Hanke Is Into Ethereum Now

Did Steve Hanke find a way out of the hole he’s been digging himself into for all these years? The economist holds the world record for the person with the highest number of terrible Bitcoin takes, with almost 13 years of failed predictions. And now, out of nowhere, he seems to like the world’s second cryptocurrency by market capitalization. What does he like about Ethereum, though? The “560% price surge this year,” of course. But there’s more…  Ethereum is giving Bitcoin a run for its money. Ethereum has become increasingly popular amongst DeFi and NFTs, resulting in a 560% price....