#Economists oppose the Fed investing in Bitcoin.#

Recently, old-school American economists 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 would hinder economic growth because these savings are not invested in real capital assets, while productivity improvements are crucial for improving living standards. He called the idea of ​​Bitcoin reserves "the stupidest idea." Hanke's views reflect the prevailing view of the traditional economics community on cryptocurrencies, which they believe lack intrinsic value and are too volatile to serve as a reliable reserve asset. On the other hand, Senator Cynthia Lummis proposed the "Bitcoin Act" to establish a Bitcoin strategic reserve, aiming to purchase 1 million BTC. This proposal has sparked heated debate about the feasibility of Bitcoin as a reserve asset. Supporters argue that Bitcoin has advantages such as decentralization and inflation resistance, making it a viable new reserve asset, while opponents argue that Bitcoin lacks regulation, poses security risks, and its price volatility could negatively impact the economy. This debate reflects the conflict between the traditional financial system and emerging digital assets, as well as people's reflections on the future of the monetary system.