Topic: Russia to replace USD reserves with Bitcoin - page 5. (Read 1026 times)
at this time we must be more careful about responding to a news, because we all have heard the news that Russia is clearly outright rejection of Bitcoin. but whatever it is I'm still waiting for official statements from Russia about this news from more trusted official media such as BBC media or others.
It's just an old rumor which at the end is not true. Also, remember the country is anti crypto.
I dont think Russia is anti crypto at least not like it was initially, its technology and some valid business but they are anti anything not under their control so not exactly in favour of BTC usage I guess. I just see them as nationalist and protective of their currency, commodity and trade. Gold is their preference as its more global then what US dollar and world reserve FIAT forex has become, with its strong bias to Washington DC
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 .
That would be interesting to see from Russia, especially it would be interesting what will do other countries after Russia investing in Bitcoin. Maybe other countries will follow same path and Bitcoin becomes trully digital gold. I heard rumour that Russian oligarchs which are one of the richest people in Russia are heavly investing into Bitcoin and other cryptocurrencies, but I did not see their wallets and I do not know is that really true. 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 you think russia is in position to do that? and if it be, well, it will be a great welcome development foir bitcoin and crypto currency at large, that is a proof of russia launching crypto into the future and with that, some other countries may imbibe it.
Looks like a fake one.
But, it could happen. We can speculate for now and maybe a time will come that it might end up into how we want it.
Russia is not in a good looks with what is US doing all over the world.
Well, who is not? They are creating war because of their main product which is weaponry.
Let us not just post this kind of links though, better read thoroughly. You could see some sentences that cannot be understood.
But, it could happen. We can speculate for now and maybe a time will come that it might end up into how we want it.
Russia is not in a good looks with what is US doing all over the world.
Well, who is not? They are creating war because of their main product which is weaponry.
Let us not just post this kind of links though, better read thoroughly. You could see some sentences that cannot be understood.
It's just an old rumor which at the end is not true. Also, remember the country is anti crypto. In opposite, Russia is replacing USD with gold, not Bitcoin, it bough for 46 trillion last year
I really doubt it.
Not with an overall federal budget of 200 billion$.
Their entire gold reserve is valued at 80 billion$ and last year they've bought something around 9 billion$.
I agree with you on this, they might not really make it a reserve since the market is still very volatile and quite risky, but at the other hand, it is a game of luck, it will favor them more if they do so now that the market is just recovering, imagine that they put part of their reserve in BTC now, let’s say 10 billion dollars, and BTC multiplies by 10x tomorrow, it means their reserve would have become 100 billion dollars. We can see that bitcoin has indirectly solved their economy crises without them knowing.
Yeah...too bad that when you try to sell 1 billion worth of it it will drop the price at half of what you bought for :PPP
Look at the graphs and see what a 1-2 million worth of BTC dumped on the market is doing to the price and multiply it by 1000.
It's just an old rumor which at the end is not true. Also, remember the country is anti crypto. In opposite, Russia is replacing USD with gold, not Bitcoin, it bough for 46 trillion last year
edit:
@stompix
Sorry, I confused trillions with billions. And also just to add. Russia bought over 600 tons of gold since 2015... just 3-4 years...
edit:
@stompix
Sorry, I confused trillions with billions. And also just to add. Russia bought over 600 tons of gold since 2015... just 3-4 years...
I don't know if it will be a smart move or not. Having a lot of bitcoin on your reserves is a great idea and I totally support it but having zero dollars in your reserves is not a smart idea. Can't they find a way to do that both at the same time? Like maybe exchange some of your dollars (not all, maybe 20% at most) to bitcoin and buying more with your own fiat (what was Russian fiat? ruble?) and changing some euros, sterling and other stuff as well (maybe even Chinese yuan) to bitcoin as well.
So, if you combine all of your reserves to get more bitcoin you will both have a lot of bitcoin on your reserves but still have a ton of fiat currency as well. It just makes much more sense right now to do that. I know it wouldn't send a political message but would be smart economically.
So, if you combine all of your reserves to get more bitcoin you will both have a lot of bitcoin on your reserves but still have a ton of fiat currency as well. It just makes much more sense right now to do that. I know it wouldn't send a political message but would be smart economically.
Even if they do I don't think that they'll be there to hodl Bitcoin in the long term but just to pump and dump. Obviously with their big money moving in they themselves know that they have the ability to influence the prices and the also know that the market confidence decreases quickly once Bitcoin reaches to a certain point. They'll be smart to do so since even if they have a big influence in the market Bitcoin still is a volatile cryptocurrency to hodl like a fiat currency.
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.
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.
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 .
Strange news to me I read one article here in Bitcoin I just don't remember the title, that the Russian hates Bitcoin, so why the bug turn around, if it happens this would be one of the biggest news this year, so we need to start holding as many Bitcoin of our own, as the Russians are coming for a big pump.
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 .
If, only if it happens then we will definitely see a very bullish price trend for bitcoin but it's still at a specualtion mode and the article only says, what will happen if Russia starts replacing their USD reserve with bitcoin! It's least likely to happen!
Russia is ruled by strict communist laws and kept themselves in a very secretive way! The only sideline chance is their ongoing issues with US but it's not so big that they will have to take such drastic step! Don't bank high on this!
I also read somewhere recently on this forum as regards this matter, about them planning to buy cryptocurrency that is worth 10 billion dollars, and that was towards the beginning of this year, is there still any explanation yet as to the jump in price of BTC that moment? I am not completely saying that they are the ones that moved the market then, but we cannot completely override the possibility.
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 .
Its too risky. It is better for russia to invest its reserve in gold which is more stable and stronger. By the way any cpuntry need USD to buy oil that mined by Saudi Arabia so every countru needs USD. This is unfair, isn't?. But if russia may well start to invest its reserve in bitcoin then the price of bitcoin could reach 100.000 usd . 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 .
While I'm not fond of Russia (supported Trump due to the lack of a better libertarian candidate), this is kind of interesting. First time I've seen a whole country put massive investments in Bitcoin, let alone any altcoin. Neat.
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 .
If this would happen, supply for Bitcoin will be sucked by the Russian reserves and making the price unaffordable for low profile investors. I don't think this could ever happen in our present times though.
No such thing as not affordable because it's based on supply and demand, investors will invest if they believe demand could increase.
If they will buy a huge volume of bitcoin, then good for us here since we are early investors, that would also help the market to recover, but then again, it's just an article, let's just take it lightly.
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 .
If this would happen, supply for Bitcoin will be sucked by the Russian reserves and making the price unaffordable for low profile investors. I don't think this could ever happen in our present times though.
I dont believe in the news article in the OP above. It is just mere speculation and assumptions. Well, crypto is full of speculations and we can only hope and expect the best to happen.
I think the U.S. sanction has something to do with Russia getting involved with funding Venezuela. They have started diversifying it's assets and of their choices is bitcoin. It seems that numbers of countries are starting to move away from depending on U.S. dollar and fining alternatives, and starting to consider bitcoin as one of it.
This will have a huge impact on not just bitcoin but also the whole crypto market.
Russia has invested more than ten billion dollars in Venezuela, of which about 7.5 billion dollars in oil production in this country. Therefore, it is trying with all its forces, including military means, to support the ruling regime of Maduro.This will have a huge impact on not just bitcoin but also the whole crypto market.
It is possible that in order to evade international sanctions, Russia will invest in Bitcoins and other cryptocurrency. This has been said for a long time. However, the Putin regime will do this in an environment of high secrecy. It seems that we still will not find out about it from open sources.
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.
Yeah, in order to avoid sanctions, Russia will use bitcoins...
Logic....zero.
Sanctions don't work the way people imagine.
In order to avoid sanctions, you need a 3rd party that doesn't give a damn about the consequences, you don't need to avoid the $, you just need to have a trading partner who doesn't care about what the US says.
Now, using logic, what is easier to find, a trading partner that would take BTC or one that will deal in $?
Just look at Iran who is every day talking about how bad America is, how the $ will fall and how it has plans to replace it but in reality, more than 80% of the deals it has for oil are in $.
Russia already had some gold and China mostly had no gold at all however its become both the worlds largest importer and producer of gold and also has a stake in gold mining operations outside its borders via its command economy
China has 80$ billions in gold, at the same time it imports every year goods for 1.8 trillion, that is around 150 billion a month.
How do you see that working out?
Russia will repeat what they have done in the past which is store large amounts of foreign reserves in gold or similar commodity worth.
You mean going bankrupt 3 times in less than 30 years?
It is quite logical that the permanent confrontation between Russia and the United States, the permanent sanctions against Russia, force the latter to look for an alternative to the dollar as a means of payment. If the choice is made in favor of Bitcoin, then this will probably give a new impetus to the development of the crypt, not only in Russia, but also on a global scale.
If you're an export of raw materials that are right now experiencing a period of oversaturation such as oil and gas you're in no position to demand how payments are done. You simply comply with the buyer or the buyer will look elsewhere.
So, at this point Russia has only one option, take the so much needed $ and euros and shut up!
This is from TASS the news company owned and run by the Kremlin:
Russian millionaires keep about 70% of their savings in foreign banks, study says
Why do you think that happens?
Russians convert their savings to dollars and euros
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