- Professor and economist Steve Hanke thinks El Salvador’s BTC adoption is “stupid
- ”Hanke made the comments in an interview with Kitco News
- Also, the economist says it would be disastrous if other countries adopt bitcoin
Steve Hanke, an economist and John Hopkins University professor, called El Salvador’s Bitcoin (BTC) adoption “economic stupidity.” Hanke made the comments in an interview with Kitco News.
Notably, Hanke made these comments after the interviewer asked him about El Salvador’s decision. Specifically, the interviewer questioned if the country’s Bitcoin adoption could be taken as a signal. With El Salvador accepting Bitcoin as legal tender is it time to universally accept the crypto as a currency? However, Hanke responded,
Bitcoin is not used in day-to-day transactions for practical purposes. You’re not gonna pay for a taxi ride with bitcoin, it’s ridiculous. This is not gonna happen...This article was first published on coinquora.com