Steve Hanke, a professor of applied economics at Johns Hopkins University and a vocal opponent of Bitcoin, has returned to Twitter to express his thoughts on the leading cryptocurrency.
He has long criticized Bitcoin, and his reasons about BTC appear to be unchanged from those he previously employed.
Hanke criticizes Justin Sun and Bitcoin
Hanke recently claimed in a tweet that because Bitcoin has a "fundamental value of zero,"
it is not a currency and is instead just a highly speculative asset. He shared a photo of the major global fiat currency symbols, the Euro, the U.S. Dollar, and the Japanese Yen,
together with the poo emoji, which stands for Bitcoin. Hanke's tweet received a response from the Bitcoin community, and some even promised to send him some BTC.
In a previous tweet, the well-known economist also discussed the current SEC case against Justin Sun,
the creator of the Tron Foundation, and its native cryptocurrency, TRX. Hanke concluded that Sun is "another crypto fraudster related to celebrity know-nothings"
after discovering that Sun paid a number of well-known celebrities to promote Tronix (TRX). He pushed this among the cryptocurrency community by saying that it is equivalent to "conmen and crooks."
Bitcoin continues to remain at $28,000
The main digital currency managed to rise over the past two weeks and came close to reaching the $29,000 mark;
that peak was set on March 22 in the aftermath of the news that some large U.S. banks had collapsed and the shares of others had started to fall. Even Deutsche Bank was part of the latter. This banking crisis provided Bitcoin a powerful boost to the north,
demonstrating once more that BTC can act as a financial risk hedge during uncertain times.
This may be what inspired Hanke to tweet that Bitcoin is a non-currency. Nouriel Roubini, often known as Dr. Doom for correctly predicting the 2008 mortgage crisis,
and Nassim Taleb, a scholar, philosopher, and former risk manager are two more traditional economics and financial specialists that oppose Bitcoin.
Although Taleb backed Bitcoin two years ago, they all continue to criticize it in their tweets and remain opposed to it.
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