#Economists oppose the Fed investing in Bitcoin.#

Recently, old-school economists in the United States have strongly opposed the proposal to allocate US reserve funds to Bitcoin. Steve Hanke, a professor at Johns Hopkins University, believes that shifting funds to Bitcoin could hinder economic growth because these savings are not invested in real capital assets, which would fail to improve productivity and thus affect the improvement of living standards. He even called the idea of ​​Bitcoin reserves "the stupidest idea." This view stands in stark contrast to the "Bitcoin Act" proposed by Senator Cynthia Lummis, which aims to establish a Bitcoin strategic reserve and purchase 1 million BTC. At the heart of this debate is whether Bitcoin can become a viable reserve asset and whether it will be a distraction. Old-school economists believe that Bitcoin lacks real value and cannot promote economic growth like traditional assets, while supporters believe that Bitcoin has advantages such as decentralization and inflation resistance, and can become a new reserve asset. The ultimate outcome of this debate will have a significant impact on the future development of cryptocurrencies.