Russia Buying $10 BILLION of Bitcoin?!

in bitcoin •  4 months ago

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

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We have newer heared that in Russia ))

Я не исключаю что кто-то по тихому покупает крипту, но власти об этом в новостях определённо не трубят

I hope this is true but... Doubt it.

Posted using Partiko Android

I'm not buying this, Russia wouldn't let this kind of information leak. Hope it's true however.

I like that rumours have such influence on the market. It shows there is life and once something major actually happens, the market is ready to make a real pump.

Still too soon for Central Banks to play this card but it could be an interesting perseverance in the future as fiat valuations start to debase to attend the debt bubble continually being created.

Posted using Partiko iOS

Good objective analysis I think they could pull it off just not in one go, now seems like a good time to slowly drip feed capital but pre announcing this doesn't make sense. maybe it's a good old double bluff

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What probable is going on is Russia already bought a little bitcoin (much less then 21 bil though) and now they're trying to pump the price.