Topic: Russia to replace USD reserves with Bitcoin - page 4. (Read 1026 times)
Russia government is crypto friendly they are forming crypto law in the coming future that doesn't mean they change their country reserve to bitcoin i strongly belive it is false news
I doubt Russia will openly invest in bitcoin, and they are probably not investing in it at this time. We do know Russia is investing heavily into gold to diversify away from the U.S. dollar. Also, it's entirely possible that Russian oligarchs are accumulating massive amounts of bitcoin at this time. Perhaps as bitcoin gains greater legitimacy in the future Russia will use it as a means of bypassing sanctions.
They all have their covert operations, and so long they have not legalized bitcoin, they will never openly declare their intention to do so, but that does not mean that they are not investing or trading with it underground.If government can trade forex and also invest in GOLD with little volatility, now that they have got the chance to make enough money through BTC volatility, they will sure do it using experts, and where will they get the money they are using from if not from the reserve, so it is possible someone somewhere got exposed to the secret which they will deny.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
[im g]https://i.imgur.com/afwIoXB.png[/img]
Do not believe this bullshit, how many times have we heard things like these coming from Russia? This:
Russia: Central Bank Suggests Limiting Sale of Crypto Assets for ‘Unqualified Investors’
shows clearly that russia will not use bitcoin. so stop believing these bullshit that a country with dark politics like russia will accept bitcoin
Russia: Financial Markets Committee Considers Requiring Identification From Crypto Users
Russian Minister of Justice: Cryptocurrency Doesn’t Yet Need to Be Legally Defined
Both the constitution and current financial system legislation in Russia “categorically prohibit” using cryptocurrencies as a means of payment, Konovalov argued, citing article 75 of the country’s constitution.
This might not surely be a news which would be relied upon. Also not only Russia but also most of other countries are not showing good enough growth towards expecting cryptocurrencies into day-to-day transactions. We can always have faith and expect something good coming towards us.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Only rumors, don't take it too seriously
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
It can't be logical until Bitcoin becomes stable. All those monetary reserves are first of all made to save the money and not to get any profits out of it. So bitcoin can't be reserve currency for such a big country like Russi then first it should become stable to secure the financial safety of the country and then it should have enough liquidity to make it possible to use this money. For this time we don't even have enough liquidity for that.https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
I am sure they would have explored this option with the help of experts and will look for the right time to come in; those are part of the reason why I believe that the bull run of BTC is very close by.
Between Bitcoin and Gold, which one do you think will be easier for them to sell and easily sold, it will be bitcoin, even digital gold does not sell fast as much as bitcoin sells globally, I am not supporting op’s claim 100% because it can’t be possible, but I can guarantee that Russia will definitely have invested in bitcoin too to secure the future in case of recession.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Such rumours really make a vast contribution in the growth of bitcoins but until they arrive from a trusted source there always is silence in the markets. In these markets where most of the governments are banning cryptocurrencies it is really difficult to accept that china is preparing to invest their reserves into bitcoins. But if ever this is a confirmed news, then I am sure a lot of big whales will seriously fill their pockets as soon as possible which will show a huge price in the history of bitcoins.https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Peoples like me always rely on such hopes and try investing into dips. If ever Russia shows such growth in bitcoins than most of the other friendly countries may also start going for it which may pump the price multiple times.
I think yuan would be much better for Russia if you think about it. Russia used to be a fully communist country and to say that they became democracy would be ignorant, they are still ruled with an iron fist on Putins orders and they still have a lot of communist propaganda and like it very much, they are very much against capitalism.
Even in Ukraine which is probably Russians biggest enemy capitalism is not fully emerged yet. So, china while fighting against USA economically could very much love the help from Russia to increase the value of Chinese yuan against dollars, if Russia ends up with buying yuan with all their dollars that would make yuan more valuable and make dollar lose value. That could both help Russia with sanctions via China and help China get stronger against USA.
Lol which country doesn't want to be better than US? but you still have a good idea, maybe they should invest the money in Chinese yuan. But nobody is sure about this news yet, you know how the media works, they can fabricate news at anytime and start to spread it even when they don't have solid proof on what they are talking about. Even in Ukraine which is probably Russians biggest enemy capitalism is not fully emerged yet. So, china while fighting against USA economically could very much love the help from Russia to increase the value of Chinese yuan against dollars, if Russia ends up with buying yuan with all their dollars that would make yuan more valuable and make dollar lose value. That could both help Russia with sanctions via China and help China get stronger against USA.
All they do is just to stay relevant. And one thing for sure is that they didn't just wake up and decide that they are going to invest the money in Bitcoin, if it's true, they must have discussed it over a lot of times before coming to the conclusion that bitcoin is a better go for them.
I doubt Russia will openly invest in bitcoin, and they are probably not investing in it at this time. We do know Russia is investing heavily into gold to diversify away from the U.S. dollar. Also, it's entirely possible that Russian oligarchs are accumulating massive amounts of bitcoin at this time. Perhaps as bitcoin gains greater legitimacy in the future Russia will use it as a means of bypassing sanctions.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
I don't really know how true that can be but I have seen it once on The Telegrah UK. It say that the Russian government is preparing a $10 billion investment in bitcoin. Lol, I'm wondering how this is going to turn out. So since bitcoin as we all know it is something very volatile, are they going to invest in it and once the price starts to drop they withdraw the money to another kind of asset or what? Cause I'm sure that once that kind of amount jumps into cryptocurrency there is going to be a bull run for sure, $10 billion is not a small amount of money, so the price of BTC is going up for sure if such a thing happens. https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Do not believe this bullshit, how many times have we heard things like these coming from Russia? This:
Russia: Central Bank Suggests Limiting Sale of Crypto Assets for ‘Unqualified Investors’
shows clearly that russia will not use bitcoin. so stop believing these bullshit that a country with dark politics like russia will accept bitcoin
Russia: Financial Markets Committee Considers Requiring Identification From Crypto Users
Russian Minister of Justice: Cryptocurrency Doesn’t Yet Need to Be Legally Defined
Both the constitution and current financial system legislation in Russia “categorically prohibit” using cryptocurrencies as a means of payment, Konovalov argued, citing article 75 of the country’s constitution.
well a lot of articles that tell support for bitcoin started to emerge and with this I think it will indeed give a good influence on bitcoin price movements because more and more traders will be affected to buy bitcoin.
Most people there do not know about Bitcoin, and it will be very weird IF the country decides to refuse USD and turn to cryptocurrencies. However, they are thinking about their national crypto.
Too many speculations but no one can predict how bitcoin can be really used as a reserve by one powerful country like Russia, if the future is on digital money which is the cryptocurrency then we cant deny that it will happen in the future just like when btc is in its first year no one predicted that this market will worth billion dollars.
Bitcoin will never be stable.
Stable enough is good enough. What currency or asset in the world is stable? It's all relative in the end. 10% Bitcoin down movement = $10 billion. 1% gold down movement = $75 billion. Who suffers more from the volatility?Russia will not invest the money in bitcoin.This is contrary to the country's strategy.
I don't think anyone here has even a slight clue about what Russia's 'strategy' really is. Almost everything you see in the news and read about is propaganda. Russia has its own agenda, and they will do whatever they think is necessary.If secretly buying Bitcoin is part of that, they will. If secretly buying more gold is part of that, they will. I prefer to wait for actual events to take place because actions speak louder than words
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
It can't be logical until Bitcoin becomes stable. All those monetary reserves are first of all made to save the money and not to get any profits out of it. So bitcoin can't be reserve currency for such a big country like Russi then first it should become stable to secure the financial safety of the country and then it should have enough liquidity to make it possible to use this money. For this time we don't even have enough liquidity for that.https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
I am sure they would have explored this option with the help of experts and will look for the right time to come in; those are part of the reason why I believe that the bull run of BTC is very close by.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Very interesting news.
It will be a totally good sign for our community and the cryptocurrency industry but I wonder how much instability is going to be created around the world.
I can see that these games between Russia and the US are very dangerous that can cause irreparable damage to the world economy.
I think it's a fake news, Russia won't do that, they are not going to replace the USD with bitcoin in their reserve. What Putin said was that "they will have to find a way around the USD when doing business because of the US sanctions" this will even be limited to very few Russian sector and not even all sectors. They may agree with transact some business with a country like China without using the USD.
An economist I will know that it will be impossible, government cannot place the whole system of the country in a system that is still being developed, I don’t doubt the fact that they would have been smarter than other countries to quickly take advantage of bitcoin to make more money in preparation for the upcoming recession.The step they can take since they believe in the system is to take part of the reserve to also invest in order to multiply it. If you look at the money stated by op, it is too small to be the whole reserve of Russia, if they even lose that money; it will not have that much impact on the economy.
Some wealthy russians are reportedly bought a significant amount of bitcoin but the Russian government has nothing to do with it. The Russian government have been known to be anti bitcoin and some of their leaders are advocating strict regulation against the use of cryptocurrency. So it is impossible for the Russian government to buy bitcoin to become their reserve instead of USD.
I agree. This is just another piece of fake news. For sure Russia is home to a large number of Bitcoin users. A number of exchanges and other crypto-related businesses are based in Russia. But the government has adopted a somewhat hostile stance towards the crypto-currency. I can understand the reason, and therefore I won't blame the government. The Russian Ruble has lost almost 60% of its value since 2014, and the government is afraid that people will use BTC as a tool to protect their wealth.
Some wealthy russians are reportedly bought a significant amount of bitcoin but the Russian government has nothing to do with it. The Russian government have been known to be anti bitcoin and some of their leaders are advocating strict regulation against the use of cryptocurrency. So it is impossible for the Russian government to buy bitcoin to become their reserve instead of USD.
I think yuan would be much better for Russia if you think about it. Russia used to be a fully communist country and to say that they became democracy would be ignorant, they are still ruled with an iron fist on Putins orders and they still have a lot of communist propaganda and like it very much, they are very much against capitalism.
Even in Ukraine which is probably Russians biggest enemy capitalism is not fully emerged yet. So, china while fighting against USA economically could very much love the help from Russia to increase the value of Chinese yuan against dollars, if Russia ends up with buying yuan with all their dollars that would make yuan more valuable and make dollar lose value. That could both help Russia with sanctions via China and help China get stronger against USA.
Even in Ukraine which is probably Russians biggest enemy capitalism is not fully emerged yet. So, china while fighting against USA economically could very much love the help from Russia to increase the value of Chinese yuan against dollars, if Russia ends up with buying yuan with all their dollars that would make yuan more valuable and make dollar lose value. That could both help Russia with sanctions via China and help China get stronger against USA.
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