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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Rain075 on June 17, 2021, 05:41:52 AM

Title: Adopting Bitcoin (BTC) Can Collapse El Salvador’s Economy
Post by: Rain075 on June 17, 2021, 05:41:52 AM

Steve Hanke, an economist and professor at Johns Hopkins University, has raised serious concerns over El Salvador’s decision to make Bitcoin a legal tender. During his interview with Kitco News, he called this decision “stupid”.
Considering the state of El Salvador’s economy, Hanke believes it is not feasible to use Bitcoin in everyday transactions. Hanke added: “The big problem with cryptos, in general, is that you can’t convert them into actual real legal tender that’s usable cheaply, and quickly. You can’t Bitcoin, for example, cheaply and easily convert into U.S. dollars.”source (https://cryptonews.net/819329/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)