Is Russia set to invest billions in Bitcoin and spark the next bull run?

[ZionRTZ]

A Russian university professor has speculated that Russia will invest billions of their capital reserves into Bitcoin in 2019, potentially igniting the next bull run.

Vladislav Ginko, a lecturer at Moscow’s Russian Presidential Academy of National Economy and Public Administration, anticipates that the Kremlin will start diversifying their cash reserves into Bitcoin amidst the possibility of new sanctions from the US, as reported by Australian news outlet Micky.

Previous sanctions by the US have been primarily targeted at Russian oligarchs, particularly ones with deep ties to Vladimir Putin. Many of these oligarchs are suspected of corruption, allegedly sanctioned by the Kremlin. Tensions between the US and Russia have been strained since the sanctions took affect.

Ginko now believes that “US sanctions may be mitigated only through Bitcoin use.”

The economist is a graduate of Saint Petersburg State University and has held several academic, investment, and government roles over the last two decades.

He notes that the Central Bank of Russia has approximately $466 billion worth of capital sitting in their reserves. Ginko believes that Russia must begin diversifying the reserves in case there is limited opportunity to do so in the future.

Ginko has taken to Twitter to promote these views, noting that he expects Russia to invest “at least $10 billion in the first quarter of this year.” https://twitter.com/martik/status/1082031829002129413

A day later, in response to follow-up tweets, Ginko commented that “de-dollarization is actually forced by US sanctions when Russia is going to be almost switched off from US payments for its oil and gas.”

“Because of US and EU sanctions, Russian oligarchs were forced to immediately move their US denominated assets from abroad, and now they see Bitcoin is the best option to invest.” https://twitter.com/martik/status/1082312178600996864

This sentiment is also shared by Russia’s president Vladimir Putin. On RT, a Russian international television network funded by the Russian government, Putin claimed that: “We have no goal of moving away from the dollar, it’s the dollar that’s moving away from us.”

Furthermore, Ginko has claimed that Putin is attracted to the idea that FinTech could provide Russia with a solution to avoid US sanctions.

If Russia were to start investing their capital reserves in Bitcoin, we might possibly be on the cusp of a 2019 bull run that could see Bitcoin and the entire market soar.


SOURCE: https://coinrivet.com/is-russia-set-to-invest-billions-in-bitcoin-and-spark-the-next-bull-run/

[tsakf]

Russia is keeping a close eye on cryptocurrencies. There are some facts that we should pay attention to. They withdrew, the strict ruling on cryptocurrencies. Vitalik Buterin, had a meeting with President Putin, a couple of years ago. I think that we may see many actions this year, because some countries slowly and steadily want to benefit from the cryptocurrency technological innovation. It is possible for this country to do a mass investment.

[ZionRTZ]

We shall see. If Russia can also did what the Japanese government did in 2017, which I believe triggered the great bull run that year, then we might have another one this year.

[damsix]

Very extreme if Russia issues funds to buy Bitcoin.
We know that Russia is indeed a fanatical country in any way and wants to always be the leader. For example in the world of military or sports always want to be the best.

We can see next if Russia starts playing on Bitcoin, Awesome!

[Altcoin1998$]

If it could be possible then I am sure that bitcoin market again will recovery soon as the market of 2017. But really it would be possible?

[Alcor]

We shall see. If Russia can also did what the Japanese government did in 2017, which I believe triggered the great bull run that year, then we might have another one this year.

Russia is not Japan. In Japan, in April 2017, Bitcoin and another cryptocurrency were recognized as a means of payment. It is unlikely that the Russian government decided on a similar step. In this country, while the oligarchs rule in their narrow interests. The interests of the people there now are not taken into account. If the law on regulation of cryptocurrency is adopted there in the near future, it will be only in the interests of oligarchic clans, the people will be deprived of the free use of cryptocurrency.
However, it is possible that the Russian government can use cryptocurrency in order to avoid international sanctions.

[Bobcrypto]

I think that whether Russia invest huge capital in bitcoin or not, it is becoming very clear that bitcoin has gained world wide adoption to a very large extent and it's popularity and increased daily demand will definitely bring a bull run any time. Obviously, the more  investors, ie national or institutional coming to embracing crypto the more bull run is expected.

[tsakf]

There are some facts concerning Russia. Vitalik Buterin, Ethereum's creator, had a meeting with President Putin, some years ago. Whatever is published, we should add this meeting, to our info, because, countries have long term plans. I will not be surprised, if suddenly Russia, changes, to a cryptocurremcy friendly country.

[jbc081475]

It's good to hear this kind of news that Russia has set to invest billions in Bitcoin. For me, Russian has a huge beliefs in Bitcoin to rise within this year. I am hoping someday that other country will also do like Russians.

[IyemRoker]

I can't wait to see Russia dancing with Bitcoin.
Then after Bitcoin rose high, then Russia sold it to create nuclear. LOL

Russia is always full of surprises.

[Jayde]

Hm, I found this new is just a fake to lure us to invest in Bitcoin and crypto, and when we’re holding our assets, they will start to sell

[vegasus]

Russia is one of the countries where we can find out many people involved and interested in Bitcoin and other cryptocurrencies. We are already aware that the involvement of the countries with a legal rule for Bitcoin will really help this coin to achieve its highest value. nd about investment n Bitcoin happened in Russia? I think it may be, there are possibilities for this, but we can't expect to occur n this recent era.

[mimikri]

There are some facts concerning Russia. Vitalik Buterin, Ethereum's creator, had a meeting with President Putin, some years ago. Whatever is published, we should add this meeting, to our info, because, countries have long term plans. I will not be surprised, if suddenly Russia, changes, to a cryptocurremcy friendly country.

Russians are thinking about creating their national cryptocurrency. So that this country is not against crypto. Simply they want to tax it.

[Fenix]

We shall see. If Russia can also did what the Japanese government did in 2017, which I believe triggered the great bull run that year, then we might have another one this year.

Russia is not Japan. In Japan, in April 2017, Bitcoin and another cryptocurrency were recognized as a means of payment. It is unlikely that the Russian government decided on a similar step. In this country, while the oligarchs rule in their narrow interests. The interests of the people there now are not taken into account. If the law on regulation of cryptocurrency is adopted there in the near future, it will be only in the interests of oligarchic clans, the people will be deprived of the free use of cryptocurrency.
However, it is possible that the Russian government can use cryptocurrency in order to avoid international sanctions.

Most likely, Russia will have to buy bitcoins to try to avoid international sanctions. After they announced that they were going to issue Russian passports in the territory of Ukraine occupied by Russia, the international community strengthened such sanctions and Russia became increasingly isolated from the rest of the world. In addition, the Putin regime is doing everything possible to, if not prohibit, then control the Internet in his country, and also prohibit citizens from freely using cryptocurrency. Such a bill has almost been passed by their State Duma.