Steve Hanke warns BTC could 'completely collapse the economy' of El Salvador
Cointelegraph
Published Jun 16, 2021 12:49AM ET
Updated Jun 16, 2021 02:20AM ET
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 “cryptocurrencies are the future of money. Bitcoin is not.”
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Written By: Cointelegraph
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