Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions

[raidarksword]

This is a great news for us crypto enthusiasts and supporters because it could open a great deal of opportunities that could boost the bitcoin's price even greater that we wanted since last December. With the support from Russia for sure this could shake the tides in the market and hoping to see green once again.

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[Osayo]

It might sound as a very great news that is capable of exciting everyone in crypto space. But I still have my worries. What if the US now decides to pull down bitcoin and cryptocurrency by imposing sanctions on its usage? It means everything might come to an abrupt end.

[deisik]

In fact, you said that gold is the superior option short-term

But that's a minor transgression, really. The much bigger one is that gold is not good even for long-term investment or holding (call it what you like) for nation states unless you control the world gold trade (read, can set prices as you see fit). And it is definitely not Russia which controls it. Buying gold is a poor man's choice, only at a national level. Russia is freezing their resources in gold which means losing time and opportunity

Okay, let me reclarify my position. I never once mentioned anything about gold or Bitcoin as an investment

It is six of one and half a dozen of the other

You can call it as you please (investments, reserves, holdings, possessions, diversifications, etc), it doesn't matter. Gold is just bad for the purposes mentioned simply because your overhead costs involving short-term diversifying will outweigh any potential benefits. And I'm not even sure that actual ordering, processing documents and physical delivery of all these tonnes of gold won't take longer than the timelines you keep in mind ("in the span of less than a year")

All in all, the whole comparison is meaningless since no one buys gold to hold it for less than a year. There are gold derivatives created exactly for that purpose (i.e. options and futures)

[jademaxsuy]

It might sound as a very great news that is capable of exciting everyone in crypto space. But I still have my worries. What if the US now decides to pull down bitcoin and cryptocurrency by imposing sanctions on its usage? It means everything might come to an abrupt end.

Do not get too carried away because all are just assumptions and there could be a possibility that it will not going to happen. Just see the bitcoin market price nowadays. It was being speculated that bull run will going to come for bitcoin yet it was not happening. The problem with people is that they will be able to believe that easily without validating the news. Let us just make some confirmations before jumping into conclusions.

[Hydrogen]

This news story published in january 2019 claimed russia would buy $10 billion in bitcoin as early as february 2019.

I see the price of bitcoin is up. Did the rumors turn out to be true?  

[whiteblue]

This news story published in january 2019 claimed russia would buy $10 billion in bitcoin as early as february 2019.

I see the price of bitcoin is up. Did the rumors turn out to be true?  

if in January Russia buys that much bitcoin then it seems that the graph that occurred at the bitcoin price in January should show an increase in price or flash pump, but maybe the purpose of that statement might be that Russia starts buying bitcoin in January and so on with capital money as much as $10 billion so the price increase is slow step by step.

[stompix]

This news story published in january 2019 claimed russia would buy $10 billion in bitcoin as early as february 2019.

I see the price of bitcoin is up. Did the rumors turn out to be true?  

No way! Nooooo  way! 

We would have seen it in the volume and there is simply no indication of such movement.
Besides, an injection of even 1 billion would mean 250 000 coins acquired and moved away from the market into some cold storage, but again there is no spike in the average transactions either by number or by value.

It's just that BTC got tired of getting poked and asked to do something and finally moved.

Also, I've seen theories that this is because of JPMorgan, the legal status in Indonesia, and many others.
I doubt it was any of them and more a move that had to happen sooner or later in this neverending bear market.

[sidkz]

YES this is really good news, and it's nice to hear that they are considering such an option to invest in cryptocurrency, but of course it will have a positive effect on cryptocurrency.
It is possible that other countries in this example will also use cryptocurrency for investment,
the main thing that someone started and then the rest will catch.

[awik p]

This news story published in january 2019 claimed russia would buy $10 billion in bitcoin as early as february 2019.

I see the price of bitcoin is up. Did the rumors turn out to be true?  

if in January Russia buys that much bitcoin then it seems that the graph that occurred at the bitcoin price in January should show an increase in price or flash pump, but maybe the purpose of that statement might be that Russia starts buying bitcoin in January and so on with capital money as much as $10 billion so the price increase is slow step by step.

I think also like that, where we see now the price is crawling up and capitalization is also rising. maybe it's true, starting from January russia began to buy and target up to $ 10 billion, with this incident at least we can see the effect at this time, hopefully this becomes a positive sentiment for the bitcoin market

[Mister1k]

I am not aware that whether the news is real or not, whatever the fact of the matter is bitcoin is the most ideal approach to exchange and sidestep sanctions forced by a few nations and when they begin utilizing along these lines things will change definitely monetarily and politically and nobody nation can limit the other in light of the fact that they don't pursue their convention.

In due time we will see the market open up for these kinds of universal exchanges. Lets expect to see the market bump to reach high grocing level.

[Caladonian]

This news story published in january 2019 claimed russia would buy $10 billion in bitcoin as early as february 2019.

I see the price of bitcoin is up. Did the rumors turn out to be true?  

No clear evidence if that thing really happened or it's still on it's ongoing process, but that huge amount can be felt right away if the rumors
is true, this small rise can't proved that amount of possible investment that will be moved inside crypto market, it's just because we are
seeing positive movements we are all speculating and finding the reason behind.

Will wait for any news about this, better to have a good reliable source of information.

[wuvdoll]

Yeah, it can't be Russia, at least not this, it would have made a lot more increase in the price if it was Russia. Think about it, an average volume of 2 billion dollars in volume suddenly becomes 12 billion dollars in a day and then 10+ of it is just purely buy orders.

The price would have been like 6k+ at least if not even more. This is just a regular increase in the price that we constantly get, check out the last 2 months or so, price has moved above 4k countless times in the past 2 months, it is just natural that it went up this way again, it will probably go back down again and up again and down again and continue to do this until something big happens. If Russia wanted to buy bitcoin it would had a lot more affect on the price than all of this and would have increased it like hell.

[onrise]

This is a great news for us crypto enthusiasts and supporters because it could open a great deal of opportunities that could boost the bitcoin's price even greater that we wanted since last December. With the support from Russia for sure this could shake the tides in the market and hoping to see green once again.

This could be the reason that we are seeing spike in the btc prices as people would have realized that market will rise and better to buy now and hold it for future as prices will shoot much quicker and better to be part of this opportunity.

[Renaldi blackspadeteam]

I was late in hearing this news, it seems like this is good news for the increase in Bitcoin prices if Russia buys $ 10 billion in bitcoin,
sometimes news like this is a consideration for crypto traders in trading on the market

[Snaic]

If Russia bought Bitcoins for 10 billion dollars, there would be a sharp jump in prices in the cryptocurrency market. However, if they buy there periodically and in small batches, this may explain the slow and steady rise of the market in recent times. The Russian government does not want to admit that it is significantly affected by international sanctions, and it is likely that the acquisition of bitcoins will occur in secret. However, it will be very useful for the cryptocurrency market.

[prtty2gal2]

If Russia bought Bitcoins for 10 billion dollars, there would be a sharp jump in prices in the cryptocurrency market. However, if they buy there periodically and in small batches, this may explain the slow and steady rise of the market in recent times. The Russian government does not want to admit that it is significantly affected by international sanctions, and it is likely that the acquisition of bitcoins will occur in secret. However, it will be very useful for the cryptocurrency market.

What assurance do you have that they have not done so already, if you take not, you will see that the OP posted this topic around January if I am right, there was an event on the 1st f this month that short the price of bitcoin up, and we have a record that over 20 billion dollars investment that period made this happen.

Till now, you and I are still yet to know exactly what happened and what made the price of bitcoin shoot so high, because I know that ordinary individual cannot afford to pump such money into BTC, it can only be large entity or institution, with this now, I cannot rule out the fact that it might be them that did the investment silently.

[deisik]

If Russia bought Bitcoins for 10 billion dollars, there would be a sharp jump in prices in the cryptocurrency market. However, if they buy there periodically and in small batches, this may explain the slow and steady rise of the market in recent times. The Russian government does not want to admit that it is significantly affected by international sanctions, and it is likely that the acquisition of bitcoins will occur in secret. However, it will be very useful for the cryptocurrency market.

What assurance do you have that they have not done so already, if you take not, you will see that the OP posted this topic around January if I am right, there was an event on the 1st f this month that short the price of bitcoin up, and we have a record that over 20 billion dollars investment that period made this happen

The same question is equally applicable to you

What evidence do you have that it was in fact them? Some obscure Russian economist made a claim completely out of the blue (read, straight out of his ass) and half the forum went wild with Russia allegedly buying a few coins. Regarding this particular surge, we don't know either how much money it required but I'm sure it is nowhere close to that figure (20 billion dollars). Let me guess, 20B is the growth in the market capitalization of Bitcoin, right?

[Xampeuu]

If Russia bought Bitcoins for 10 billion dollars, there would be a sharp jump in prices in the cryptocurrency market. However, if they buy there periodically and in small batches, this may explain the slow and steady rise of the market in recent times. The Russian government does not want to admit that it is significantly affected by international sanctions, and it is likely that the acquisition of bitcoins will occur in secret. However, it will be very useful for the cryptocurrency market.

What assurance do you have that they have not done so already, if you take not, you will see that the OP posted this topic around January if I am right, there was an event on the 1st f this month that short the price of bitcoin up, and we have a record that over 20 billion dollars investment that period made this happen.

Till now, you and I are still yet to know exactly what happened and what made the price of bitcoin shoot so high, because I know that ordinary individual cannot afford to pump such money into BTC, it can only be large entity or institution, with this now, I cannot rule out the fact that it might be them that did the investment silently.

besides large institutions, of course, the effect of this increase has triggered investors to invest. maybe many of the investors are buying together, and this happens some time, so we can see the prices rise again

[alyssa85]

If Russia bought Bitcoins for 10 billion dollars, there would be a sharp jump in prices in the cryptocurrency market. However, if they buy there periodically and in small batches, this may explain the slow and steady rise of the market in recent times. The Russian government does not want to admit that it is significantly affected by international sanctions, and it is likely that the acquisition of bitcoins will occur in secret. However, it will be very useful for the cryptocurrency market.

Remember that if they bought, they'd buy over-the-counter direct from a miner, instead of using exchanges. So they'd likely not move the price much.

[stompix]

Remember that if they bought, they'd buy over-the-counter direct from a miner, instead of using exchanges. So they'd likely not move the price much.

We mine 1800 BTC a day, 10 billion$ mean 2 million BTC or the mining reward for more than 3 years for all miners.
No over the counter deal would accommodate this, we're talking about 1/9 of the total circulating supply and probably 1/7 or 1/6 of the whole coins that people still have access.

Before the price rise, we would see warning signals from the banks involved in moving such sums.

What evidence do you have that it was in fact them? Some obscure Russian economist made a claim completely out of the blue (read, straight out of his ass) and half the forum went wild with Russia allegedly buying a few coins.

The rumors came when we didn't have any real hope of any price rise for the short term, so people clung to anything and hoped for the best making headlines out of anything insignificant, Russia, Samsung, Amazon,BMW, etc etc and now that we have a rise thy think they nailed at least one of it.

The problem is that even if they can't prove their theory, we can't dismantle it either, so at this point is turning into a futile maybe, what if, it is, no it isn't  discussion.