Russia is doubling Gold Purchases? What does it mean for Cryptos?
As Bloomberg's Yuliya Fedorinova and Olga Tanas report, the Bank of Russia has more than doubled the pace of gold purchases, bringing the share of bullion in its international reserves to the highest of Putin’s 17 years in power, according to World Gold Council data.
If Russia’s buying continues at a similar pace, the World Gold Council said the full-year increase in 2017 “could closely match” the 200 tons purchased annually in 2015 and 2016.
What does it mean for Cryptos?
I think if they're getting Gold, we should as well as Cryptos. It's actually the confirmation we need that our crypto world will continue and we ARE NOT wrong at all.
wow....good news ...thanks for shearing
You're welcome
Crypto for ordinary people is better than gold. It is easier to store at home, and gold - only in the bank :)
Well, Crypto are more convenient because you can buy things with them. If you own Gold I advise to you take it out of the bank because in a crises they will steal from you. Anything you may have a security deposit box is never yours. They can take it away from you any time they want. They own what you have there.
Russia may be preparing for a currencies war or they know that FIAT currencies are on a downward trend with more countries launching their own cryptos. gold will be the next big thing after cryptos
I have to agree with you. They always talk about Gold but I believe the one that is going to do very good is Silver to be honest. I think Gold will get so high that almost no one will be able afford and whoever is left will go for silver.
you have been followed
Same here my friend :)
good post!gold and crypto are the best!
Definitely my friend!
good post!thank you!
I really like your post because it is very good
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thank you for sharing javybar.good news.
you're welcome
great post as always, im collecting cryptos everyday :P
Trying to do the same when new money is available.
Interesting thoughts, I will follow them)