Connect with us

Cryptocurrency News

Russia’s might going to trigger Bitcoin reserves



According to the Russian financial economist revealed that the America Sanctions could now be going to result in making some sort of change in the Bitcoin bull market.

A well-known and famous Russian Financial and Economist, V Ginko who is also a lecturer at the Russian Academy of National Academy made a claim on his social media platform Twitter and also in an interview with one of the Australian publication.

A Russian economist claims that U.S. sanctions could result in the triggering of the next Bitcoin bull market.

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

In the meeting which followed, some of the questions which came out of around $470 Billion cash reserves. Moreover, Ginko also claims that some of the official data from the bank which is based out of Basel, Switzerland has verified this figure. He also claimed that such type of amount is not going to make any impact or find its way into just one night. Apart from that, he expects that around $10 Billion will be converted to Bitcoin before the end of February.

With respect to his claims, some other clarified that more than $10 Billion would be going to send the Bitcoin price unless the purchases were made through the OTC (Over The Counter), but liquidity will also be going to one of the major problems.

At the time, Russia President Putin said: “We have no goal of moving away from the Dollar. It’s the dollar that’s moving away from us. Those making such decisions are not shooting themselves in the foot, but somewhere more delicate, further up the body.”

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.