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**Steve Hanke Calls US Bitcoin Strategic Reserve ‘Stupidest Idea,’ Here’s Why**
Renowned economist and professor Steve Hanke has recently made headlines by calling the idea of a US Bitcoin strategic reserve “the stupidest idea” he’s ever heard. In an interview with CNBC, Hanke expressed his skepticism about the potential benefits of such a move.
For those unfamiliar, the concept of a US Bitcoin strategic reserve involves holding a portion of the country’s foreign currency reserves in the form of bitcoin (BTC) or other digital currencies. This idea has been gaining traction among some politicians and economists who believe that it could potentially stabilize the global financial system.
However, Hanke believes that this notion is flawed for several reasons. Firstly, he argues that the volatility of the crypto market makes it unsuitable for a strategic reserve. The value of bitcoin can fluctuate drastically in a matter of minutes, making it an unreliable store of value.
Furthermore, Hanke pointed out that the lack of regulation and oversight in the crypto industry means that holding BTC as a strategic reserve would be a high-risk venture. In his opinion, the US government should prioritize established currencies and other stable assets over digital ones.
**What is the Dark Tetrad?**
In addition to his critique of the Bitcoin reserve idea, Hanke also touched upon the concept of the “Dark Tetrad,” which refers to four personality traits that are often associated with darker aspects of human nature.
Source: u.today
