When El Salvador embraced bitcoin (BTC) in the first week of September, on the first day the law was passed, the fiat value of BTC plummeted dramatically. At the moment, Salvadoran President Nayib Bukele assured his Twitter followers that his government was “buying the dip,” adding 150 BTC to its stockpile. Meanwhile, Steve Hanke, a Johns Hopkins University professor of applied economics, attacked the Salvadoran president and tagged him in a Twitter tweet on September 23.
Meanwhile, the main crypto asset bitcoin (BTC) saw a drop in price in September, but as the month progressed into October, BTC’s price soared. On October 15, Bukele chose to retweet Hanke’s message from September 23 and add his own comment. “You were saying?” Bukele mockingly inquired of the well-known economist. During the previous 24 hours, BTC has been hovering above the $60K price level.
Hanke stated at the time that he didn’t believe it was a smart idea for the Latin American country to accept bitcoin as legal money, and that the choice might “completely collapse the economy.” Despite his reservations about bitcoin, the economist has previously stated that central banks exacerbate wealth loss and that the world might need less of them. Hanke, on the other hand, supports the establishment of currency boards, which basically use monetary power to maintain a fixed exchange rate with foreign currencies.
Hanke has recently stated that private, digital money is nothing new. Hanke believes that most money has been created privately and in digital form for decades. Hanke stated in an opinion column published by the National Review that “the case for crypto as a driver of innovation is thin.”
Majuro, Marshall Islands, May 15th, 2024, ChainwireMultipool, a leading innovator in the blockchain and cryptocurrency…
Despite a recent drop, GME calls targeted massive gains with $100 and $128, as per…
ETH/BTC ratio crashes to a low of 0.046, last seen in April 2021. Ethereum's position…
DOJ charges brothers Anton and James Peraire-Bueno for a $25 million Ethereum blockchain attack.
Van Buren Capital's Scott Johnsson suggests spot Ethereum ETF rejections may precede SEC's May 23…
The dydx Foundation has recently disclosed a pivotal update on its official blog, revealing the…
This website uses cookies.