Russia Planning to Fight US Sanctions with Bitcoin

by | Jan 14, 2019 | Bitcoin, Economy, Government | 0 comments

Russia Planning to Fight US Sanctions with Bitcoin

According to a Russian Economist with close ties to the Kremlin, Russia is preparing to replace the US Dollar as the reserve currency with Bitcoin.

Vladislav Ginko, an economist at the Russian Presidential Academy of National Economy and Public Administration, stated that the government is taking steps to minimise the impact of US sanctions that have hit the Russian rouble by replacing some of its US dollar reserves with the world’s most popular cryptocurrency, Bitcoin.

It is suggested that investment into Bitcoin by Russia could begin as early as February of this year.

“[The] Russian government is about to make a step to start diversifying financial reserves into Bitcoin since Russia [is] forced by US sanctions to dump US Treasury bonds and [take] back US dollars,”

Vladislav Ginko, Russian Presidential Academy of National Economy

So far the Kremlin have not commented on these statements from Ginko however the reports at this stage seem sound and regardless this could be the fuel Bitcoin needs to end the current bear market that it’s found itself in since January 2018 after Bitcoin reached $20,000.

If indeed the news is accurate and Russia does intend to start diversifying it’s reserve currencies into Bitcoin we can expect some huge buying volume over the coming months as other Countries also jump on board to avoid being left out.

Ceribalius

Ceribalius

Ceribalius is a pseudonym used by one of our writers, he/she is a digtial nomad and dedicated fighter of freedom and liberty. If there is something that needs saying which no one else is, he/she is the one to do it.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Scotland – Back To School In The Post-Covid Era

Sky News reported today on just what school is looking like in the post-covid era. Tollbrae Primary School in Airdrie has started back after...

Antifa.com Redirects to Joebiden.com?

It has been brought to my attention that at the time of writing, Antifa.com has been setup to redirect to everyone's favourite creepy, pervy...

Weekly Covid-19 Tests For Children Returning to School In The UK?

In a desperate attempt to get children back into School in September, calls for weekly Covid-19 testing on children and teachers have been...

Former Circus Scientist Says UK Could Go Into Lockdown By September

Ex-government advisor Sir David King warns UK may return to lockdown by September. Britons could be facing another full lockdown before schools...

New ‘Second Wave’ Covid-19 Powers Allow UK Councils to Bulldoze Private Property

Local authorities will be able to order the demolition of buildings at the centre of coronavirus outbreaks under draconian powers to contain a...

Covid-19 Vaccine Manufacturers Protected From Accountability Due To Side-Effects

A senior executive for pharmaceutical giant AstraZeneca has confirmed that his company cannot face legal action for any potential side effects...

The Corporation – Full Documentary

A Documentary that looks at the concept of the corporation throughout recent history up to its present-day dominance.

UK Holds Freedom to Ransom To Increase Coronavirus Vaccine Uptake

If large numbers of people of the right cohort, those who are at most at risk of COVID infection, do not get vaccinated, then the restrictions...

A Cashless Society Driven By AI is an Imminent Reality

'Declined', again. There's money in the bank, but no way to spend it. But that's ok, its only a matter of ringing customer services - they'll...

UK Covid Death Count Debacle Is Just the Tip of The Iceberg

'Anyone who has tested Covid-19 positive but subsequently died at a later date of any cause will be included on the PHE Covid-19 death...

Stay Connected and Subscribe

Join our mailing list to receive the latest news and research material direct to your email. You can opt out at any time.

Thank you for subscribing!

Pin It on Pinterest