Steve Hanke expressed his dissatisfaction with Bitcoin, explaining why he does not see BTC as a reliable asset, and explained why investors should stay away from the world’s largest cryptocurrency.
Steve Hanke, a prominent economist and major crypto skeptic at Johns Hopkins University, has once again criticized Bitcoin on his Twitter page and shared his distaste for Bitcoin and the reasons for it.
“Bitcoin has zero intrinsic value”
Steve Hanke, a well-known Bitcoin critic, shared his reasons for not believing Bitcoin to be a valuable asset with his followers on Twitter. Highlighting the flagship crypto’s high volatility, highly uncertain asset and vulnerability to fraud, Hanke said; He concluded that Bitcoin is merely a highly speculative asset whose intrinsic value is close to zero.
The economist who is not satisfied with this; He shared an internet meme comparing Bitcoin to famous disasters like the Titanic and the Hindenburg.
#Bitcoin is an asset that is extremely volatile, susceptible to fraud, and highly uncertain. What could go wrong? Bitcoin is nothing more than a highly speculative asset with a fundamental value of ZERO. pic.twitter.com/RxwU3MbW1l
— Steve Hanke (@steve_hanke) September 27, 2021
About 10 days ago, Hanke also made some comments about El Salvador’s adoption of Bitcoin as a legal tender; He claimed that the majority of Salvadorans did not understand Bitcoin, so they were fed by government lies about BTC being a cheaper remittance method than traditional financial platforms.