When Bhutan revealed its strategic reserves of Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), the global financial community took notice. But economist Steve Hanke dismissed it outright for the US to even consider, calling Bitcoin reserves “the stupidest idea.” His critique reeks of academic detachment, a worldview that has no place in the real world where results matter.
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Here’s the reality: Bitcoin isn’t just an asset class; it’s the best-performing asset in history. Over the past decade, Bitcoin has risen from obscurity to become one of the largest and most influential asset classes. It’s outpaced stocks, bonds, commodities — you name it. This isn’t speculation; it’s fact, backed by data.
Bitcoin’s appeal lies in its core characteristics: decentralized, scarce, and resistant to censorship. It’s the digital alternative to gold, a hedge against inflation, and a lifeline for economies in turmoil. Bhutan gets this. They see Bitcoin for what it is — a transformational asset that’s rewriting the rules of finance.
Steve Hanke’s dismissal of Bitcoin as a reserve asset is emblematic of a broader problem with academia. Hanke operates in a world of theories and outdated models that don’t reflect the…
