Russians collectively hold about $130b in crypto

[noormcs5]

The Russian prime minister has claimed that Russians collectively hold more 10 trillion rubles($130b) in cryptocurrencies like bitcoin. Lots of Russians probably bought bitcoin when it seemed like the ruble was going to nosedive due to the expected sanctions at the early phases of the war while some are buying cryptocurrencies to be able to get money out of the country

Note: This is a claim
Source: https://cointelegraph.com/news/russians-collectively-hold-130b-in-crypto-prime-minister-says

These days if any government wants to go against the powers and regulations of USA, then they need to have a heavy investment in bitcoins so that they can survive without the dollars. As more and more countries will realize this, they will invest more in bitcoin, and eventually, the bitcoin will go much higher and the dollar will become weaker. This may take some time, a decade maybe, but this will happen for sure.

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[dothebeats]

First thought: wow, that's a lot. Second is how does the Russian government know all about this? This data is only available if the crypto owners themselves disclose what they have to the government, or they are in cooperation with exchange owners themselves. Anyway, that $130bn in crypto can move a lot in the whole market, and goes to show how much money the Russians have even in crypto alone. It's ironic how the country is anti-crypto for some time and have their citizens amass that amount.

[taufik123]

A country that is anti-crypto but has $130 billion in crypto, is ironic and in contrast to the regulations provided by the Russian government.
The Russian prime minister claims that collectively Russia holds more than 10 trillion rubles (130 USD) in cryptocurrencies such as Bitcoin and several other altcoins. The source of the figure is based on various estimates stating that they have data on more than 10 million young people who opened crypto wallets and have transferred large sums of money that exceed 10 trillion rubles ( $130 billion ).
However, Russia has been slow to adopt cryptocurrencies and the rules about using cryptocurrencies are not clear. Russia that became a crypto-skeptic country and urged other countries to ban the use of bitcoin.