Did Politicians buy bitcoin?

[lionheart78]

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 a speculative assets and politicians is just humans who wanted to profit from these kinds of assets.  I believe that there is a huge possibility that politicians are also buying Bitcoin not because they see its worth as a financial development but rather they see Bitcoin as a speculative asset that can gain them huge profit in the future.

These politician may shy away from revealing their personal involvement in Bitcoin investment, but we cannot deny the possibility that many of these politicians around the globe had already profited and losses from Bitcoin price swings.

[TokenTikas]

These days, many politicians are starting to gain more confidence in the crypto space because keeping large amounts of fiat money in banks can easily expose ownership and financial details. That’s one reason why more people are now becoming interested in storing wealth through modern options like cryptocurrency. The crypto world gives users more control over their assets and in many cases, other people cannot easily track or know what someone is holding.
Considering privacy and security matters, it seems many politicians are becoming more interested in buying bitcoin and using crypto as part of their financial strategy.

[Alonso_]

I believe that politicians buys bitcoin, and not only do they buy bitcoin, I believe that they go as far as buying properties and stacking money in the banks, and some of them keep money underground sewage systems where you will not know about any of this things, this are actually in the old days, perhaps there are still some of the old fashioned politicians who do this kind of things, so I might not really know what is happening for them, but this new fashioned politicians would definitely be stacking and keeping money in their bitcoin wallets.

[ContentWriter]

Politicians are not different from the people except that in countries with weak institutions, they find ways to manipulate the system anjd steal from the commonwealth. There is nothing special about politicians debar their quest for power, sometimes at all cost.

There is no doubt that the corrupt ones would buy bitcoins, perhaps with the hope that they could conceal their track or the money trail. These things happen when there are no effective checks and institutionalized corruption hold sway. Nevertheless, even third-world countries would eventually experience revolutions that sometimes bring crooked political players to book. We saw this happen in several Arab countries during the Arab Spring, so thievig politicians is no big deal and funnelling their funds via Bitcoin may hold a temporary promise since it still can be traced if the erring politician is caught.

[athanred]

Did Politicians buy bitcoin?

Of course. For example, Sławomir Mentzen publicly declared, that he owns 33,7 BTC: https://orka.sejm.gov.pl/osw10.nsf/0/526F37EA871B40EBC1258C750043285D/%24File/OSW102_241.pdf

[Davidvictorson]

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?

It depends on the region of the world you are referring to. there are so many way that corrupt politicians invest their stolen funds and in my estimation, bitcoin or any other cryptocurrency does not make the top 10 on the list. Bitcoin is relatively new for them and many either do not understand how it works and would prefer their old tested, trusted, and tried ways. And just like someone already commented, they may have it buried underground or other places that are yet to be discovered by people.

[Z-tight]

The BTC blockchain is transparent, so it may not be the best tool for money laundering, especially if the actor is unskilled in using BTC in combination with privacy tools, and i doubt many politicians are.

If they are not trying to use BTC as a tool to hide stolen funds, then i am sure there are many politicians that buy and hold BTC. However, if it as a tool to hide their stolen money trail, they would prefer cash and other tools they have used for a long time now over BTC.

[Bushdark]

I believe that politicians buys bitcoin, and not only do they buy bitcoin, I believe that they go as far as buying properties and stacking money in the banks, and some of them keep money underground sewage systems where you will not know about any of this things, this are actually in the old days, perhaps there are still some of the old fashioned politicians who do this kind of things, so I might not really know what is happening for them, but this new fashioned politicians would definitely be stacking and keeping money in their bitcoin wallets.

The politicians are the major competitors in the crypto market and because they have the fund, they can buy millions of dollars in Bitcoin at their own expenses to make money from the crypto space. Politicians like Donald Trump and others have billions of dollars worth of Bitcoin and this is possible because he has the power to control the market through the news.
Influencial people are the ones that are making money from the crypto market and majority are accumulating Bitcoin because they have the power to make decisions that will either lead to the price crashing or rising.

[Franctoshi]

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?

Yes, the majority of our politicians are quite aware of Bitcoin and also make use of it, but some don't want to make that known to the public because they feel that they will likely become a point of attention, so only a few do, because of their various political positions, especially in those corrupt countries where we have some of our politicians stealing funds. What they do is that they use someone who doesn't hold any political posts to buy or acquire their Bitcoin and then send it to their decentralized wallet that's not linked to their identity.

[uneng]

I live in a very corrupt country, but interestingly Bitcoin has never become a topic on that matter. Every schemes operated by politicians so far have been done through fiat currencies, consolidated banks and the participation of government's agents. It means they use the centralized system in favour of their schemes of corruption. Centralization is so good for them that they don't feel like a decentralized currency like Bitcoin is necessary.

Ironically, centralization is promoted as a way to restrain criminal activities, while decentralization is identified as fertile soil for scammers to operate.

[serjent05]

I live in a very corrupt country, but interestingly Bitcoin has never become a topic on that matter. Every schemes operated by politicians so far have been done through fiat currencies, consolidated banks and the participation of government's agents. It means they use the centralized system in favour of their schemes of corruption. Centralization is so good for them that they don't feel like a decentralized currency like Bitcoin is necessary.

Silence about politicians buying bitcoin does not mean these politicians completely do not invest in Bitcoin or cryptocurrency. And take note, bitcoin blockchain is transparent, imagin if a politician use Bitcoin to launder money, then all his actions will be recorded and can be proof of the person's corruption.  Fiat money is still the best way to launder money.   

Ironically, centralization is promoted as a way to restrain criminal activities, while decentralization is identified as fertile soil for scammers to operate.

This is what the government wanted to inculcate in the minds of its citizens.  They have to promote that their policy is solid and can avoid fraud and lies about the system that does not follow their protocol.

[Ishicryptic]

Anybody can buy and hold Bitcoin whether you're a politician or not and it doesn't matter your motive Bitcoin is for everybody both the genuine and corrupt people or institutions. As for politicians hiding their loots in Bitcoin it is very possible being that it is decentralized but what they should understand that it is possible for transactions to be traced if the authorities can get and track their transactions. Bitcoin has unfortunately been linked to a lot of fraudulent transactions that is used for money laundering but it's haters and authorities forget that money laundering have always been before Bitcoin creation and that fiat remains the major means of laundering and scamming in every society.

[The Cryptovator]

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?

Are there any restrictions for politicians to buy Bitcoin? If not, then anyone could buy Bitcoin from their ends, either politicians or the general public. Rather, they might accumulate more Bitcoin since they have more black money. Bitcoin is the currency that can't be traced by any security agencies from the government end unless the holder shares his address.

It's easy to hide assets from the government if someone purchases Bitcoin. When someone purchases Bitcoin, it means he is investing in Bitcoin as well. Also, Bitcoin gives us financial freedom, so politicians will also take advantage of that financial freedom. So definitely I think those politicians familiar with Bitcoin will invest in that.

[Findingnemo]

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?

No, it is not that simple. Even if the politicians are ruling the country, there are still laws and anyone who is breaking it will be a criminal. SO if they ever steal money and keep it as stock or even in an offshore account, they can still be traced and seized. With Bitcoin, they can have the custody but they still be exposed if they ever used any regulated place to buy.

This is why they always try to keep them in cash or physical gold.

[HONDACD125]

Corrupt politicians mostly use different ways to invest the stolen money so that even if one of the sources is caught, they shouldn't lose everything they have. The main source they use is probably real estate, and it's not only done within their own country but in foreign countries where they buy properties using the money they have stolen through corruption so that they can go there and enjoy their lives after they retire, and we have seen this happening with a lot of politicians and government officials from multiple countries including my own, but I wouldn't name anyone or say anything further.

When it comes to Bitcoin and cryptocurrencies, they can surely do that as well if they find a way to actually buy and store a bunch of Bitcoins in hardware wallets without leaving any traces for anyone to connect those bitcoins with their name, and I think they can easily do that by not using their own identity for making those purchases, they can use other people for this, and as we know, it's not a big deal for politicians to erase people from their way if they sense that those people could become a hurdle in their way of success or maybe they can get them caught somehow.

[Fiatless]

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.

News of politicians stealing money is common in my country. The financial crime unit is always recovering money and assets from them. There are records of them stealing various currencies, including the dollar and other fiat currencies. I have never heard of any recovery of Bitcoin or other cryptocurrencies. Perhaps they prefer fiat because cash can be difficult to trace.

[sunsilk]

The US senators I think have some idea of what Bitcoin is and some of them might actually own it.

If we set that as an example, then it's possible even though we don't know the actual quantity of the politicians who bought Bitcoin.

The possibility is huge that they're also investing into Bitcoin and as well as the altcoins that they could be interested with.

[snowpega]

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?

Anyone can stay anonymous while investing in Bitcoin. How do you think Trump tripled his net worth since the day he became the president of the US this time? For that, I really suspect that he tripled his net worth with the help of the Bitcoin market and the stock market. The edge advantage to him in tripling his net worth easily was that he is the prime minister of the US. And all that time, we really know how much he manipulated both the market, and I really suspect that he had been doing all this for his own benefit.

The reason is that when everyone's portfolio was destroying but was the one whose net worth was increasing, haha. Isn't it strange and relating things the way I am thinking? No doubt I can also be wrong, but what seems close is clear in front of us. What do you think about this? So, yes, political leaders can also buy bitcoins.

[Cookdata]

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?

If you still public funds, there is always a lead and once the lead is caught, whoever stole that money will be caught. I don't think any politician can steal public fund, goes to the market and buy Bitcoin direct even if it's through OTC. The problem today with politicians is that they steal money and withdraw through bank and the manager which is always there people, this person is the tumbler behind how they get funds to do whatever they want to do and anti fraud agency hardly caught them but even with that if a system isn't compromised, any politician with stealing record can be caught.

Bitcoin isn't a place where you can hide money and get away with it, if the FBI is so much interested in your case, they are going to find you and get you. If you steal money and convert it to Bitcoin and spend the Bitcoin, they will get you, if you spend fiat to buy Bitcoin, they will get you unless they are not interested on your case or the money isn't too big for them to follow up.

[Zoomic]

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.