#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 could hinder economic growth because these savings are not invested in real capital assets. He emphasizes the importance of improving productivity for improving living standards and calls the idea of ​​a Bitcoin reserve "the dumbest idea." Hanke's view is that Bitcoin, as a virtual currency, lacks real value and cannot promote economic growth like traditional assets. He believes that investing funds in real capital assets, such as infrastructure construction and technological research and development, is the key to improving productivity. On the other hand, Senator Cynthia Lummis has proposed the Bitcoin Act to establish a Bitcoin strategic reserve, aiming to purchase 1 million BTC. The core of this debate lies in whether Bitcoin can be a viable reserve asset. Supporters believe that Bitcoin has decentralized, anti-inflationary features and can serve as a safe haven asset. Opponents argue that Bitcoin is highly volatile, lacks real value, and cannot be used as a reserve asset. This debate will continue to spark people's thinking about digital currencies and the traditional financial system.