#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, thus failing to improve productivity and ultimately affecting 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 by purchasing 1 million Bitcoins. At the heart of this debate is whether Bitcoin can be a viable reserve asset and whether it will be a distraction. Supporters argue that Bitcoin has advantages such as decentralization and inflation resistance, and can be a complement to reserve assets. Opponents argue that Bitcoin lacks intrinsic value, is too volatile to be a stable reserve asset, and will divert investment from real capital assets, ultimately harming economic growth. This debate continues, and the ultimate outcome will depend on the assessment of Bitcoin's future development and applications.