Steve Hanke is wrong once again about something related to bitcoin.
<a target="_blank" href="https://x.com/steve_hanke/status/1876297676842557734″>he is He recently pointed to the idea of the United States creating a Strategic bitcoin Reserve (SBR).
In the video included in the say that bitcoin does not build factories, create jobs or drive innovation.
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A STRATEGIC RESERVE OF US bitcoin = A STUPID IDEA.
Savings channeled into bitcoin do nothing to build factories, create jobs, or drive innovation. pic.twitter.com/VaH0p7Y835
—Steve Hanke (@steve_hanke) <a target="_blank" href="https://twitter.com/steve_hanke/status/1876297676842557734?ref_src=twsrc%5Etfw”>January 6, 2025
I couldn't disagree more and I think your argument completely misses the point.
Let's be honest about what an SBR is supposed to do. It is not about building factories or creating jobs directly. It is about protecting a country's economy, protecting against risk and ensuring long-term economic stability.
Does Hanke think the United States should sell its gold and oil reserves or its food and weapons reserves because they are not “driving innovation”? Of course not. Those reserves exist to provide security and stability, not to act as venture capital investments.
An SBR would work the same way. It would not create jobs directly, but it would provide the United States with a hedge against inflation, dollar devaluation and geopolitical risks.
Let's face it: the dollar isn't as strong as it used to be, and holding bitcoin would give the United States a safety net as the world moves toward decentralized money. It's about preparing for the future, not clinging to outdated economic models.
Hanke also forgets how reserves can provide leverage. If bitcoin becomes the most valuable asset in the world and the United States has established a bitcoin Strategic Reserve, it will be at the forefront. This is not just protection: it is a huge geopolitical advantage. It would strengthen confidence in the American financial system.
Your opinion shows that you do not understand what reserves are for. This is about risk management and long-term strategy, not short-term job creation. A strategic reserve of bitcoin is not a “drain on the economy.” It is an innovative and forward-thinking movement.
The idea of an SBR is not stupid. What is stupid is to dismiss it with obsolete arguments.
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of btc Inc or bitcoin Magazine.
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