Did Politicians buy bitcoin?

[Cryptomultiplier]

Cash is still king when it comes to anonymity
So I guess many would still be going old school
And I wouldn't rule out the fact that they can add Bitcoin to their portfolio
Anybody can.
And buying shares and stocks leaves traces even Bitcoin except they are hiding under a smoke screen
Or alias or something.

I believe many of they are still going old school which will not be difficult for them. They can stark cash in a room, burry underground and many more methods.

But when it involves sending the money out of their country, that is where the issue of bitcoin comes in. Money laundry had been the easiest way to expose criminal politicians. But due to the advert of bitcoin and other digital monies, we have stopped hearing of money laundry. So, they now launder it in a smart way.

I'm countries where Bitcoin is acknowledged or even fully accepted as a legal tender, it is quite hard for politicians to launder stolen funds using crypto currencies because if they must use CEX, it can be tracked. They would really have to be smart to hide it properly and where they eventually get caught is when they rush to liquidate and buy luxury items and goods or go on expensive vacations and shopping.
It starts with the government probing the particular politician in question and when they dig, using smart tools we don't know they have, they can track down any stolen funds politicians have hidden using crypto currencies and confiscate it. Isn't this why the Bitcoin reserve was created in the U.S in the first place?

[Faisal2202]

With the rate of stealing in the political spheres, modern technology has improved more secure wallets like BTC, pocket bank, and mobile money where people can hid their money. I learnt Politicians now invest in buying stocks exchange, shares and BTC for the fear of anti financial fraud agency. Did Politicians actually invest buying BTC to avoid be prone by security like EFCC, FBI said more?

They can use cryptocurrency for any reason they want, but that would be their personal choice. If they do something illegal and get caught, they will be prosecuted as well. But saying something like politicians used to take funding for campaigns, like Trump taking Bitcoin as funds for his election campaigns, and many senators might be doing it too, and in some places they have restricted senators from taking any kind of donations or funds in the form of cryptocurrency because of the same reason you mentioned.

Because it might be easier to hide, but due to its transparency level I would not say it is a nice way of taking bribes, because everything is transparent and anyone could leak the address. Someone giving a bribe could even leak the address if they want, and the agencies have their ways to audit and test them too, so it is an easy catch for them, and with Bitcoin they could easily be caught.

[macson]

I think politicians are buying Bitcoin, but not to hide their money, because if they were, they would probably prefer more traditional ways of hiding it --- they're buying Bitcoin for regular investments, like any other investor. But perhaps only a handful are involved in Bitcoin, as most of them are more interested in investing in traditional assets like gold, property, or blue-chip stocks, which are more familiar to them.

[Smartvirus]

I think politicians are buying Bitcoin, but not to hide their money, because if they were, they would probably prefer more traditional ways of hiding it --- they're buying Bitcoin for regular investments, like any other investor. But perhaps only a handful are involved in Bitcoin, as most of them are more interested in investing in traditional assets like gold, property, or blue-chip stocks, which are more familiar to them.

Well, one truth about these is the fact that, it shouldn’t border you, it’s no business of yours what people do and do not do with their money. Either politicians are buying Bitcoin or not is entirely up to them to decide what they choose to invest their money with. By all means they should, which ever their motive is so long as, it’s not for illicit purpose or ill gotten money.
Bitcoin respects privacy in transparency and that’s why we don’t have to concern ourselves with what other Individual do with Bitcoin.

[Zoomic]

I'm countries where Bitcoin is acknowledged or even fully accepted as a legal tender, it is quite hard for politicians to launder stolen funds using crypto currencies because if they must use CEX, it can be tracked. They would really have to be smart to hide it properly and where they eventually get caught is when they rush to liquidate and buy luxury items and goods or go on expensive vacations and shopping.
It starts with the government probing the particular politician in question and when they dig, using smart tools we don't know they have, they can track down any stolen funds politicians have hidden using crypto currencies and confiscate it. Isn't this why the Bitcoin reserve was created in the U.S in the first place?

Will they even be caught? These politicians have agents and experts working for them. They don't have to use their own identity for any registration. Their agents run all the shits and give them results and if things go wrong the agents would be the ones in the public domain.

Concerning the reason for establishing bitcoin bitcoin reserve, US might not agree that the reason for establishing the reserve is to confiscate illicit funds, but not being able to buy more bitcoin to add to their reserve proves it all.

[freedomgo]

Anyone is free to buy bitcoin, not just to hid from anti-financial fraud agency, but because they have reasons to believe that bitcoin can offer them bigger horizons in the future. So there's always possibilities that politicians will create a good purchase with bitcoin.

However, to hide their ill-gotten wealth, most of them still trust investing in luxury real estate(local and offshore), anonymous shell companies, and even invest in luxury items like high-end vehicles, aircraft and jewelry that are mostly named not on their own identity but some other trusted allies.

They have all the money, so diversification would be easy for them, but given the fact that the ownership should not be made on their own names.

[Agbamoni]

Politicians no longer hide cash underground; it is old school. What they do is build a supermart, buy small businesses, and invest in startups. The realisation that they can go broke if they do not invest wisely has made politicians try to use their money to do things that will sustain them in the time to come. Some politicians buy Bitcoin while others buy other cryptocurrencies.

[Hamza2424]

With the rate of stealing in the political spheres, modern technology has improved more secure wallets like BTC, pocket bank, and mobile money where people can hid their money. I learnt Politicians now invest in buying stocks exchange, shares and BTC for the fear of anti financial fraud agency. Did Politicians actually invest buying BTC to avoid be prone by security like EFCC, FBI said more?

They invest in BTC because they are crypto friendly, and they also invest to show that publicly. Because a recent report showed that more than 50 people in the Trump administration owned around 2 million dollars worth of crypto. The amount might not be huge, but the gesture itself is important.

Bitcoin has mostly been used by groups involved in large scale operations. I am saying this because they deal with a lot of transactions and activities, so crypto becomes easier to use. For example, Brazil has allowed police and authorities to use seized crypto for their operations as well.

Many of them have cash buried underground. Many of them have fiat in banks abroad. Many of them buy properties aboard. This are very common in my country. I have heard about bitcoin this way before, but not what I have seen on the news, those that I have mentioned have been what I saw on the news. But, definitely, yes, it is possible because bitcoin is money.

Well explained, but due to its nature, it is easier for authorities to trace the coins back to the politician. They prefer cash mostly because even online bank transactions are proof that they are taking in money from means they were not supposed to.