Did Politicians buy bitcoin?

[Israelgogo]

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?

[Ambatman]

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.

[Charles-Tim]

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.

[ColdLava40]

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.

Agreeable.

I'm not sure there is any one best methods for political agenda, that's better than the cash system. It is much more easier to go away with their stolen assets using cash.

Bitcoin might work too, but they might have to further improve there privacy using cleaning tools. But let us not make it look like that is the kind of things Bitcoin was created for or the privacy tools.

Bitcoin only makes it byer and more advanced in that they don't have to hide the money underground or far away. If they prioritize self custody, they will b able store their money with lesser amount of stress.

[red4slash]

Who Knows, Anyone can buy Bitcoin including Politicians and they will never be suspected as long as they do not provide information about their wallet so anything can happen but when it comes to most politicians or people trying to hide their money I still agree with @Batman that the conventional way is still one of the most possible things for them to choose.

Bitcoin can indeed be an easier alternative but when they are detected then indirectly they could lose everything they have because surely every connection with the wallet will immediately be used as a new trace unlike the conventional way and physical money is still used especially they can also do it without tracking anyway in the end so conventional methods are likely to be more chosen even though bitcoin can always be an option.

[Maslate]

It is highly possible that politicians can also consider buying bitcoin and invest their stolen funds on it because with its decentralized nature, the chances of being anonymous is high. But I think most of them would still chose to invest in stocks and bonds, luxury real estate and put another name as its owner, and go for offshore bank accounts where oversight and reporting requirements are weak.

Politicians aren't made for nothing, they are wise and smart that's why stealing funds aren't hard for them, and investing in bitcoin may also be easy for them.

[Ronsbit]

The politicians would be the last set of people to take their ill-gotten wealth to a public ledger like the Bitcoin chain. They would never make such a mistake, as they know the consequences if caught. That is why they prefer the fiat system, where they could loot as much as they can and clean up every trace of their loot so that they would not be tracked, as that is what they so much like and are comfortable with. Do not expect a politician to tell you they have an investment or that they invested in bitcoin, that would be the last thing they would do.

[Sanitough]

It could be yes or no. It depends if they trust and believe with its potentials. However, my own assessment about this is that they could try buying bitcoin but maybe just on a minimal amount.

Bitcoin is still new for them, and its new to the investment market so they won't let their hard-stolen money will only go into waste. As much as possible, aside that they want to secure those funds, they also want to see those funds growing and would give them higher interest and valuable profits. And by investing into traditional investments they are more exposed to, they can be sure enough that their money is safer there.

[mirakal]

Bitcoin is known to be one the of the most profitable assets for now and with its convenient, and borderless way to store wealth, its possible that politicians are also eyeing to buy bitcoin and include it in their investment plans and goals. But since bitcoin is also involved in bribery or asset concealment, I believe majority of these politicians still prefer to go for traditional assets.

But in the future, if bitcoin has remained consistent and becomes highly profitable asset, no politician will never risk their stolen funds into bitcoin. Bitcoin will definitely be their top choice.

[ingiltere]

They are buying not just Bitcoin but many other crypto-currencies as well. Politicians in my country have been doing this for a long time. Some have been at it for over 10 years. They don't announce it openly though. They accumulate these assets on the sly. It's very easy for them to hide these assets in the event of a potential asset seizure, which is pretty common in my country. That's why many of them prefer these methods. I'm pretty sure it works that way for many other countries, especially on not developed ones.

[mcdouglasx]

Yes, it's possible that many politicians own Bitcoin. It doesn't necessarily mean they're laundering money; it could simply be an investment. While politicians aren't exactly known for their honesty, we can't equate politician + Bitcoin = fraud because that would be implying that decentralization + anonymity equals fraud.

So, I'll reiterate what I've always said: a knife can be used as a weapon, a tool, or a kitchen utensil. The user decides how to use it, and the responsibility lies with them.

[AmoreJaz]

Yes, it's possible that many politicians own Bitcoin. It doesn't necessarily mean they're laundering money; it could simply be an investment. While politicians aren't exactly known for their honesty, we can't equate politician + Bitcoin = fraud because that would be implying that decentralization + anonymity equals fraud.

So, I'll reiterate what I've always said: a knife can be used as a weapon, a tool, or a kitchen utensil. The user decides how to use it, and the responsibility lies with them.

As you can own bitcoin discreetly, more than likely, there are indeed politicians who are crypto holders not only bitcoin. Getting involved here can be anonymous and it is up to you how you will keep it private. So yes, the likelihood is always there especially for those who are hiding some wealth.

[livingfree]

Did Politicians actually invest buying BTC to avoid be prone by security like EFCC, FBI said more?

Trump talked about it, and his son has admitted invested in it.

So, all sets of politicians are also in Bitcoin. The corrupt and the good ones, there are politicians who have been investors and businessman prior to their political career.

And for the corrupt ones, as soon as they understand that Bitcoin is the best asset for them to hide their wealth, they would do it.

Before it's with the banks, real estate, bonds and other assets where they can send those money that they've swindled.

But since they have the better choice now, it won't be shocking if some admits to own huge amounts of BTC.

[Bitcoin_Budha]

As already mentioned, cash is king for many. I have to agree with this because in our country, still mostly politicians still have cash they are not interested in this. Recently, a few weird things happened in different cities, and a few politicians lost huge amounts of cash but no investigation or anything happened because the law is blind for them.

Few have some knowledge about this, but this is not a good or big amount because most are not well educated and have enough understanding of this technology, but as time is running and few people are working on this, change can happen because the future is great for Bitcoin.

[laspol65]

Politicians hide money in different embraces, they build big palaces in foreign lands. They hide their domestic currency in foreign banks, these are their strategies because they find different methods for how to hide money, in this case, if a politician is emotional, who identifies and buys Bitcoin, then it depends on them. We know that we hold Bitcoin for the long term and invest this money in the right place, so different people use this Bitcoin in different ways.

[Questat]

Yes, there are chances that these corrupt politicians will enter bitcoin investment to hide ill-gotten wealth and evade FBI or EFCC, but investing in bitcoin are known to have significant risks as well, and that any time the FBI or the EFCC will successfully access the wallet and trace its entire history.

These people will invest in bitcoin but with a limited amount, but majority of these funds will surely be invested in traditional assets like stocks, bonds and cash equivalents. Not just on their own country, but even abroad as the chances of tracing is quite low and insignificant.

[GeorgeJohn]

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?

Bitcoin is in privacy...if politicians invest in bitcoin, you will not know...Even though someone answered yes that politicians purchase bitcoin, the person that answered yes, have no proof that politicians purchase bitcoin.....Another thing is that's every one have the right to buy bitcoin and nobody is exempted to buy bitcoin...

So whosoever that purchase bitcoin, knows the reason why they purchase bitcoin....I want you to know that bitcoin wasn't made to hide out from crime...Even if you stole a money and use it and purchase a bitcoin, it can be investigated, if its properly handled...