Did Politicians buy bitcoin?

[2stout]

Of course they have!  This would explain a lot of the increase in favorable legislation, esp when you see politicians that were diametrically opposed to BTC now unambiguously in approval.  I doubt most are true believers but rather are true opportunists and change directions based on whichever way the wind blows.

[alastantiger]

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 like every other investment and since it is like that everybody can invest in Bitcoin including politicians, scammers and the regular people like you and me. Nobody is discriminated from investing in Bitcoin and as it can be used for your good so it can be used for bad in respect to people stealing money and storing it in Bitcoin. It is not just Bitcoin but every other currency and assets out there can be used for evil hence anything you think politicians can invest into to hide their money they can also do the same in Bitcoin and other cryptocurrencies.

Bitcoin is not untrackable instead Bitcoin brings about transparency so if a politician is trying to invest in Bitcoin to hide their stolen funds it can be easily tracked on the blockchain and the moment the politician put an identity to an address that was involved in the transaction they can be apprehended and this has been the reason behind so many cases that the FBI has been able to track down scammers because they made use of addresses that has KYC linked to them. Politicians are evil as many of them only care about their own gain especially in some of the poor countries in the world, what we can do is to hold our politicians responsible for the public funds they handle and if this can be done right then we won't have cases of politicians stealing money to hide them in Bitcoin.

[Onyeeze]

Of course they have!  This would explain a lot of the increase in favorable legislation, esp when you see politicians that were diametrically opposed to BTC now unambiguously in approval.  I doubt most are true believers but rather are true opportunists and change directions based on whichever way the wind blows.

politicians may hold Bitcoin for their reasons but sometimes it's not all of them that hold Bitcoin it is few of them I may say that to hold Bitcoin because they have understand the relevance of Bitcoin unlike before that politicians criticize the existence of Bitcoin but since they have seen the relevance of Bitcoin most of them is no longer condemning Bitcoin in their Parliament so for them not to be condemning bitcoin the way they do before that is a sign to show that most of the politician is investing in Bitcoin and they believe in Bitcoin banking

[Miles2006]

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 seen more like an investment choice, if politicians should consider bitcoin then certainly they want an increase over time. Politicians don’t hold little amount rather they intend to accumulate larger amount, bitcoin can be use as a means to hide funds also in terms of EFCC probably they’re little details that can connect every asset including real estate so I don’t think Politicians choose bitcoin as a means to hide funds.

[Woodie]

Cash is still king when it comes to anonymity
So I guess many would still be going old school

Agree with you 😜

Not to sound like am supporting Politicians in financial crimes.. but anybody trying to avoid leaving any sort of money trail is better off with going with a cash as the only proof of getting bursted is if found with bundles of cash but next best thing is definitely Bitcoin but the point of interest that will put you on the spot light is the conversation of fiat to BTC as p2p platforms have their own challenges and if you want anonymity this isn't the best option either.

Otherwise many ways to convert cash for Btc without putting ones identity in the open

[Patikno]

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?

Money laundering in politics is indeed very common, and there are many cases of it in my country. Politicians are very adept at using various methods to conceal it, even in unexpected ways such as; involving investments, businesses, exports and imports, charitable donations, and so on. The strangest case I have ever seen was a case of hiding illicit funds involving an apartment. These politicians have their own ways of laundering, or hiding their money. So, I think it is possible they might try to buy Bitcoin as a means to hide their money, but I must emphasize, that Bitcoin cannot be blamed for any misuse.

By the way, I doubt politicians would use Bitcoin as a way to hide their money. Wouldn't it be difficult for them to get their large sums into it?

[Orpichukwu]

They prefer to go with cash more than they can choose digital currency; there could be traces of the transaction if it were to some certain level only. When they want to move money away from the country, they could consider possible means which will leave lesser to no trace. If not, I see them as people who prefer to stack cash, as that's the perfect way they also move it out from the bank.

[Vaskiy]

They prefer to go with cash more than they can choose digital currency; there could be traces of the transaction if it were to some certain level only. When they want to move money away from the country, they could consider possible means which will leave lesser to no trace. If not, I see them as people who prefer to stack cash, as that's the perfect way they also move it out from the bank.

Politicians' preference will be cash. How does a politician make money apart from businessman turned politician. Corruption is the means and how does it happen. Mostly a person needs to transfer funds to the politician. Here if he receives in bitcoin, the sender will have the trace of the transaction and view complete transactions happening with the particular wallet address. This isn't enjoyed by the politicians. There are different banking networks that keep everything confidential and are operating for elite personalities who deposit funds in millions. As said in the previous post, most are into bank for their secure holding of funds than bitcoin.

[2stout]

Of course they have!  This would explain a lot of the increase in favorable legislation, esp when you see politicians that were diametrically opposed to BTC now unambiguously in approval.  I doubt most are true believers but rather are true opportunists and change directions based on whichever way the wind blows.

politicians may hold Bitcoin for their reasons but sometimes it's not all of them that hold Bitcoin it is few of them I may say that to hold Bitcoin because they have understand the relevance of Bitcoin unlike before that politicians criticize the existence of Bitcoin but since they have seen the relevance of Bitcoin most of them is no longer condemning Bitcoin in their Parliament so for them not to be condemning bitcoin the way they do before that is a sign to show that most of the politician is investing in Bitcoin and they believe in Bitcoin banking

In the US it appears that most politicians don't necessarily believe in Bitcoin banking.  For example, you can see slow downs and delays when the banking lobby pulls out the check book.  Also this regarding the SEC- " The SEC abruptly delayed its long-awaited "innovation exemption," which would have allowed US firms to issue tokenized securities (including tokenized stocks), following pushback from major exchanges (Nasdaq, NYSE, Cboe), resulting in the SEC putting the rule on hold without a new timeline."  I wonder how much this costed?

[Bitcoin_people]

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?

Currently, most politicians in the world are more likely to trade and keep digital currencies than local currencies. Powerful digital currencies like Bitcoin have become the most popular in the world, due to which politicians who are using local currencies have started using Bitcoin because they are not in the eye of the law. They mainly use Bitcoin so that no one can tag them and their privacy is protected, they use Bitcoin to spread money to different countries in different ways. Currently, there are only a few politicians who have invested publicly, but most people in the world do not want to reveal them. In order to strengthen their financial position through cryptocurrency, they invest in Bitcoin by keeping themselves secret. If politicians deposit money in banks and do various activities with it, their privacy will be revealed, which is why they use Bitcoin.

[Doan9269]

Personally I don't trust politicians so I believe some of them are having bitcoin investment hidden from the public so that they don't get much attention on theirselves, knowing that they are public figures and there will be more concentration on how they utilize government funds in their disposal, there are many people that have invested in Bitcoin with huge amount of money but we don't seem to know of them because they are not coming publicly to announce what they are up to inconsidering for bitcoin investment.

[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?

Currently, most politicians in the world are more likely to trade and keep digital currencies than local currencies. Powerful digital currencies like Bitcoin have become the most popular in the world, due to which politicians who are using local currencies have started using Bitcoin because they are not in the eye of the law. They mainly use Bitcoin so that no one can tag them and their privacy is protected, they use Bitcoin to spread money to different countries in different ways. Currently, there are only a few politicians who have invested publicly, but most people in the world do not want to reveal them. In order to strengthen their financial position through cryptocurrency, they invest in Bitcoin by keeping themselves secret. If politicians deposit money in banks and do various activities with it, their privacy will be revealed, which is why they use Bitcoin.

Real people know that no smart politician will loot a public fund and put in Bitcoin because one way or the other, they will be caught, you can't launder money and get away with Bitcoin so easy for a person that is a political figure, the real politicians that stole money keep cash at home, they don't deposit the money in the bank and they don't register that money so they don't get any track. They keep the money hidden until they want to use it, or some use it to launder through their business, which has been the olden and still the effective way most of these politicians steal money and get away with it, but as I said, smart, the ones that are not smart get caught one way or the other.

When you see a polician makes an investment, know that they are going to do it with their clean money, if you are not even careful they use that money to campaign for their reelection that they don't have record of mismanagement of public funds, they are going to use that to decieve the public that they are doing good work of the people but we all know most politicians are nepotically brainded, they know nothing than enriching their friends and there family.

[HelliumZ]

In my country, some politicians who want to hide black money from all evidence may buy Bitcoin. Moreover, some dishonest corrupt people in my country use mixers through Bitcoin for money laundering. However, one of the main reasons behind this is that there is no evidence when transferring in Bitcoin, but if you deposit money in a bank, or buy physical assets, there is evidence of that and there may be legal problems later, which is why politicians are currently investing in Bitcoin.

[Renampun]

We never know how politicians buy Bitcoin, because they usually use other people's identities to hide their wealth, so it is possible that some politicians buy Bitcoin and hide some of their wealth in it but under other people's identities, especially in countries with lower levels of surveillance, it is possible that politicians use Bitcoin as a way to move or store some of their wealth. but I feel that only a small number of politicians use this method, since the help of tax consultants and asset management firms are more adept at hiding the wealth of these politicians.

[Somegory]

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's not all politicians that are dirty, and yes some of them are buying Bitcoin not to escape their crime acts but to support what Bitcoin is all about, I believe that politicians are smarter than most average people.

Using bitcoin to cover your stolen fund is the biggest mistake you can make if you are a politician, because fiat is way more anonymous than Bitcoin the old way is the best solution to this.

There are politicians in my country that are advising youths to buy and hold Bitcoin, this was around that covid time, and many still don't see any reasons why, it's not all politicians that are dirty I just want you to know that.

[summonerrk]

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?

Of course they're buying, and I expect Bitcoin to be less susceptible to influencers than all crypto. Bitcoin is currently showing itself to be a fairly strong asset, and don't look at the drop to 73k after the deterioration due to the conflict between the US and Iran. I think crypto has become stronger because cryptocurrencies used to react strongly to any words from politicians, and recently we saw Bitcoin ignore Trump's positive words. In other words, Bitcoin has become less speculative partly because of words. It believes in numbers now, from US economic indicators to ETF flows. In a sense, Bitcoin has matured.

[Giwagi56]

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 is not something that you should ask because they are doing it and it has been a long time since they are doing it, many politicians don’t keep fiat in their pockets or an account again because they don’t want to get themselves into trouble with EFCC or FBI, i have heard and seen many politicians who are buying bitcoin with the money they steal for their countries.

If any politicians save their money in fiat it will definitely going to affect them and because they will be questioning about they get the money and where they get the money from, although some politicians can defend themselves because they are business owners while some politicians can not defend themselves because they are squandering public funds, even in my current politicians preferred to have their money in $ than in naira.

[CryptoHeadlineNews]

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 politicians can build basement in their numerous houses across the nation to hide physical cash, why do you think with the help of Bitcoin who makes the holding of money anonymous without a trace to any singular individual, that these politicians will not embrace it. Because right from time, I have always known that any politician who wishes to steal and embezzle public funds will be very happy with the invention of Bitcoin, where they can hide millions of dollars in Bitcoin, without it been traced to any individual account, since they are usually not been linked with KYC, most especially those who hold their Bitcoin in non custodial wallets.

[uchegod-21]

Bitcoin is open to everyone and anyone can buy bitcoin no matter the reason they are buying it. I do not have any tangible evidence to show that politicians are secretly buying bitcoin; however, it is still very possible for them to turn to bitcoin for criminal motives.

Corrupt politicians have done worse than buying bitcoin for the wrong reasons. Many have assets scattered all over the world under fake names so that nothing can be traced back to them.

Bitcoin provides them privacy without much stress, and they still retain full ownership of their assets as long as they are careful.

At the same time, not all politicians are against bitcoin. Some informed politicians already have investments in bitcoin, and they do so not because they want to steal public funds.

[Mame89]

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.

What you say is absolutely correct. Bitcoin decentralized nature which makes it anonymity is its advantage. Of course many officials and politicians invest in Bitcoin and some even invest the proceeds of corruption as it can be a good money laundering tool for them. So, it's undeniable that Bitcoin can sometimes be used for both positive purposes and criminal activities.

In the past we often heard about politicians stashing stolen money in foreign banks, buying property and so on. But in the digital age like today, with the advent of Bitcoin some of those who understand Bitcoin will certainly use Bitcoin for safekeeping.

Especially in recent years we've heard of several politicians buying Bitcoin, although not all and the scale varies. On the other hand in the United States, for example several members of Congress have openly bought Bitcoin. During Trump campaign a few years ago he was also a strong supporter of Bitcoin and his family has significant exposure to Bitcoin indirectly through Trump. So, with so many countries involved and many adopting Bitcoin politicians are naturally increasingly interested in investing in Bitcoin even if the proceeds are stolen in the political sphere. In several countries there are issues of corrupt officials laundering money through cryptocurrencies particularly Bitcoin.