📉 Old-school economists are pushing back against the idea of allocating U.S. reserve funds into bitcoin! 🇺🇸💰

Steve Hanke, a professor at Johns Hopkins University, recently criticized the concept, arguing that diverting funds into bitcoin could hinder economic growth. He stated, "It puts a drag on the economy because those savings are not invested in real capital assets." 🏗️🔍

Hanke emphasized the importance of increasing productivity for improved living standards, calling the bitcoin reserve idea "the stupidest idea." 😤

This comes as Senator Cynthia Lummis proposes a strategic bitcoin stockpile through the BITCOIN Act, aiming to purchase 1 million BTC. 📊

What are your thoughts on this debate? Is bitcoin a viable reserve asset or a distraction? Let us know what you think! 💬