Veteran economist Steve Hanke dismissed Bitcoin’s (CRYPTO: BTC) rally amid the federal government shutdown as a “flight to fantasy” on Tuesday.
Bitcoin Has No Fundamental Value, Says Hanke
In an X post, Hanke commented on the apex cryptocurrency’s record-breaking run that sent it past $126,000.
“Bitcoin’s rally after the US government shutdown = a flight to FANTASY,” Hanke, who served in Ronald Reagan’s White House as a Senior Economist on the President’s Council of Economic Advisers, said.
Hanke, who has been a fierce critic of cryptocurrencies, called Bitcoin a “speculative asset with no fundamental value.”
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