The hot new rumor on the internet streets is that Russia is going to buy $10 BILLION of #Bitcoin in an effort to evade US sanctions. Let’s unpackage this rumor and discuss why I think it’s a big fat baloney sandwhich, nothing burger. Also, let’s take a walk back on memory lane to January 14th of 2018 to see how far we’ve come in the past 365 days, or better yet, how far we’ve fallen.

“Russia plans to tackle US sanctions with Bitcoin investment, says Kremlin economist” – The Telegraph
https://www.telegraph.co.uk/technology/2019/01/14/russia-plans-tackle-us-sanctions-bitcoin-investment-says-kremlin/

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33 replies
  1. Bitcoin academy
    Bitcoin academy says:

    Привет всем, я хотел бы поблагодарить мистера Лукаса Кроуфорда за помощь в увеличении моих инвестиций в 700 долларов за невероятные 5600 долларов. Мистер Кроуфорд, нам нужно больше таких людей, как вы, в этом мире, и, несомненно, это будет лучшее место. Вы можете связаться со своей офисной линией +17752105785

    Reply
  2. Jay Black
    Jay Black says:

    So say I secretly acquired 10 billion in bitcoin over the last month or so and announce it to help pump all the coin I just got why wouldn’t that make sense to inflate the price

    Reply
  3. Graig McCain
    Graig McCain says:

    One of my greatest fears today is what cryptocurrency is doing to this generation of business people. When ever i go online to read the news on cryptocurrency (i follow some in particular), i notice a lot of jargons being said and to crown it all, the news always ends with the acronym 'Hold On For Dear Life' which in my own opinion isn't a bad idea but holding on its own as done with stocks has its guiding principles which of course, nobody follows with crypto. People are not willing to find mentors, or learn the hard way but somehow believe buying and accumulating an asset as unstable, unpredictable and speculative as bitcoin will someday make them millionaires. One that particularly drives me nuts is a particular Wilson going about all channels and flooding them with 20,000 xrp will be life changing in 5 years. The truth is that holding onto 20,000 xrp or 50 btc in 5 years time may altogether wreck you emotionally because nobody can boast and say what the future holds for cryptocurrencies. What you should do is make use of an opportunity that presents itself while still in its useful state. Trading with the right combo of expertise, tools and advice is what will change your life not in 5 years time but perhaps in 5 weeks time if you know just what to do. Today, bitcoin is struggling with shifting supports and resistance in and around the $4,000 region and this is currently bitcoin at its most predictable state and position to realize great profit in trading. This is quite risky for newbies and intermediates so i would recommend an expert like Mr Mark Hall whose signals and trade strategies today are some of the greatest and most accurate in the crypto space. All you need to do is find such a person and seek his opinion and guidance on how you can get good and consistent profit trading bitcoins and you would ultimately see reasons in your results why hodling is such a risky move to make. You can mail Mr Mark Hall on markhall279@gmailcom.

    Reply
  4. Chris Beamis
    Chris Beamis says:

    Crypto Bobby, I'm not contradicting you about the chances are that the Russian Federation govt is announcing ahead of time that they'll buy $10B worth of BTC, but… What you say aboot buying 20% of all the BTCs is FALSE. If a state actor sized whale began buying BTC it would drive the price up as you mentioned, and that actor would end up with far fewer BTC in order to own an amount with a market value of $10B than they would if the price did not rise.

    The language of "Evading sanctions" makes it sound like they're trying to do something shady, when in fact what they need to do is protect themselves against the inflationary $US, which is also becoming less useful to them as a means of exchange thanks to the US economic sanctions. When anyone wants to protect themselves against fiat inflation they buy non-inflationary assets such as gold or BTC. For this purpose it doesn't matter too much to the Russian govt if the BTC price runs up prior to their buy, because they're goal isn't speculative gain but inflation protection. Diversifying into both gold and BTC might be a good way to achieve that goal.

    Reply
  5. Ok
    Ok says:

    Why should Governments buy BTC? Whoever have the BIG MONEY will just create their own "coin" which they will force us to use as the new electronic paymethod of the next world.

    Reply
  6. dubstep1994
    dubstep1994 says:

    You talk so much bla bla. It is ofc just something they say to scare USA. If they was going to do that they would not say it. It is as simple as that. Or the already did it over the last year.

    Reply

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