Russia will invest part of its reserves in bitcoins

The Russian economist Vladislav Ginko, a member of the Russian Presidential Academy of National Economy and Public Administration, announced on Friday that the government plans to invest part of its reserves in bitcoins. With this measure they seek to strengthen their economy, secure their future and minimize the dependence of the US currency on international trade.

According to the official, this will allow facing the different measures and sanctions imposed by the United States on Russia. It is about the purchase of some US $ 470,000 million in bitcoins in the coming months. The economist estimates that the first phase will begin in a few weeks, with an amount close to US $ 10,000 million.

The first quarter of 2019 is decisive for the migration of part of the Russian reserves to the main cryptocurrency of the market: bitcoin. Because of the magnitude of the investment, it is an operation that must be carried out with caution and in several stages.

Ginko has indicated: “One of the things that could, without a doubt, serve as a driver for market capitalization would be the purchases of large amounts of cryptocurrencies by governments.” He has also defended the cryptocurrency – as Putin did last November – as a way to face US sanctions to the government of Vladimir Putin.

From Moscow they have not issued any communication denying or accepting the statements about the investment of part of their reserves in bitcoins. However, according to Vladislav Ginko, bitcoin is the best refuge of value for the future.

M.Pino

Source: Bitcoin.es

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