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Russia wants BTC
Who buys Bitcoin (BTC) for $ 470 billion?

First partial transaction of $ 10 billion can take place in February.

If you suffer from US sanctions and have a lot of resources available, you can of course wait until Donald comes back. You can also look for an alternative to act freely with your money. In the latter case, crypto coins ensure that national borders, banks and waiting times disappear like snow in the sun. That is striking more and more countries. Venezuela and Iran are already busy with crypto coins and China also finds the digital money handy.

Russia, however, seems the furthest. According to the latest reports, they want to convert part of their national reserves to Bitcoin (BTC). In total, rumors suggest that $ 470 billion will be converted. In view of the quantity, one wants to do that in parts. That is why in February they might start with a 'modest' exchange operation of $ 10 billion.

Now there is not as much gossip and fantasy as in the crypto world, but the previous statements come from Vladislav Ginko. Now that is not a name that rings a bell for many of us, but appearances are deceiving. This gentleman is a lecturer at the Russian presidential academy for national economy and public administration in Moscow. He is also one of the closest economic advisors to Vladimir Putin. In recent Tweets with, among others, crypto gurus Chris Burniske and John McAfee, he makes a confident impression. Here are some shots from twitter:

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[/url]Chris Burniske


 · 6 jan. 2019

Antwoorden op @cburniske
5/ Take global asset values:

Gold: $7.7T
Stock Markets: $73T
Broad-Money: $90T
Debt: $215T
Real Estate: $217T
Derivatives (low-end): $544T

Placing the world over $1 quadrillion in value, where monies most broadly defined represent < 10% of that value. …
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All of the World’s Money and Markets in One Visualization
How much money exists in the world? This updated visualization compares the world's richest people, companies, and markets with the world's money supply.

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Vladislav Ginko@martik

Chris, I believe sitting here in Moscow, Russia, that the real factor of Bitcoin apotion will be when Russian government I'm working for will start investing almost $470 billion reserves into Bitcoins. I expect that it'll be at least $10 billion in the first quarter of this year.

22:51 - 6 jan. 2019
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135 mensen praten hierover

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John McAfee


 · 8 jan. 2019

I have thrown down the gauntlet to the IRS. Will they take the bait? I gaurantee a "yes". Unlike the SEC, which looked away when I challenged them, the IRS knows only anger and brutality. They won"t allow a "nothing" like me publicly disrespect them. …
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John McAfee is set to do battle with the IRS over taxes - CryptoNewsReview
John McAfee declares he’s not filed a tax return in nearly a decade – and throws down the gauntlet to the IRS… Controversial cryptocurrency advocate – and 2020 US President candidate – John McAfee...

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Vladislav Ginko@martik

John, you're always welcome to Moscow Smile Especially since we in Russia is going to stand against US sanctions starting investing at least $10 billion of reserves into Bitcoin …

18:53 - 8 jan. 2019
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Russia might Invest Billions into Bitcoin to Mitigate U.S Sanctions - Blockmanity
Amidst various sanctions by the United States, Russia might buy Bitcoins in the Billions as a way to mitigate these sanctions. According to Vladislav Ginko who is a lecturer at the Russian Presiden...

Andere Tweets van Vladislav Ginko bekijken
Putin himself also recently made comments about ways to pass the sanctions of the US. In that sense, things seem less drained than usual. In an interview Ginko explains everything again. If this step continues we will in any case no longer have to doubt about acceptance by institutional parties and mass adoption. Even if it only appears to be a Russian threat to have the sanctions eased, it is clear what an impact cryptocurrency can have.
What is this thing that builds our dreams, yet slips away from us?

I can understand converting reserves into gold, that seems sensible but BTC seems very risky, unless you know that leaving reserves as they are is riskier.
If such a huge transaction really happens then the price will go up of course. The downside is that the owners will become whales and able to manipulate the price.
Cardano is the most promising 3 gen. crypto right now.


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