Did Politicians buy bitcoin?

[Giwagi56]

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.

You are right but i don’t think politicians use the money they steal from public to invest in Bitcoin because they know that it will affect them, did you know that there is some limit where you will have a money and you will be suspected because even the bank that you are using will investigate about the money you have in your bank account that is why some politicians don’t like using public funds in their account or use it to buy bitcoin easily, they can buy bitcoin but it will be with their earn money and the public funds they steal will be in their home and where they keep it in cash to use for other things like Campaign and other projects that will make them be re-elected.

[Insanity]

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.

Except they don't intend keeping those cash for a long time. Those physical notes could get spoilt with time since they are not printed to last for a very long time. I have seen that happened with some of the corrupt politicians in my country after stashing bulk of cash in bags in some secret location. Now what do you think such politicians and those that would learn from their mistake would do?! Surely they would be going for alternatives that can't have the money destroyed with time but preserves it for as long as possible as they wish to keep it there.

I agree that some politicians and rich people may seek to save their money outside the scope of money. The large cash stored for years may get damaged, lost or found whereas assets such as bitcoins are more easily stored and transferred. However, Bitcoin is not completely anonymous as every transaction is recorded on a public blockchain. Even if someone would try to hide money using Bitcoin there are still risks if their identity would be tied to the addresses of their Bitcoin wallets. Bitcoin is a good store of value. But not an ideal solution for anonymity, as blockchain analysis is becoming increasingly sophisticated.

[Dewali]

   I do agree to an extent some politicians will try other alternatives of trying hide their funds through bitcoin but at the same time due to bitcoin volatile nature it's very risky to keep bitcoin as a perfect store of values as it remains far from perfect store as most people might assume . A politician holding a significant value of bitcoin could watch his value drop from 60% to 30 % within a week.
      While bitcoin offers some degree of animosity. It not truly anonymous  to an exten.Every bitcoin transaction is recorded on permanent public Blockchain and with increased in highly we developed blockchain analysis tools , regulatory agencies, expecially when the wallet addresses it been exposed to real world.

[AGogi2003]

You are right but i don’t think politicians use the money they steal from public to invest in Bitcoin because they know that it will affect them, did you know that there is some limit where you will have a money and you will be suspected because even the bank that you are using will investigate about the money you have in your bank account that is why some politicians don’t like using public funds in their account or use it to buy bitcoin easily, they can buy bitcoin but it will be with their earn money and the public funds they steal will be in their home and where they keep it in cash to use for other things like Campaign and other projects that will make them be re-elected.

Anything can be possible, politicians can do anything just to get what they really need. Bitcoin is uncontrollably and anyone that invest in the coin and save it in there wallet no one can get access with it even the bank so is even easy for politicians that are rich to used the money they get and buy bitcoin even the ones they steal. But what I really noticed I don’t see any politician that are focusing on all this crypto stuff is just business and what will make them to be at top and be elected they usually deal with fiat money not crypto they don’t have time for crypto investors all is physical business or land and keeps for long terms.

[sokani]

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 possible that's the reason corrupt politicians invest in Bitcoin. Not because they want to buy and hold so their investment can appreciate, but as a way to hide looted funds so it will be difficult to confiscate if their corrupt practices finally come to light.

If they steal and buy properties with stolen money or divert it to their bank accounts. The properties can be seized and their bank accounts frozen. However, if they buy Bitcoin and keep it in their personal wallets, it will be difficult for it to be seized. Except if the anti-graft agency comes across their seed phrase during a home raid.

[laijsica]

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?

This is a plausible assumption. Many people keep their cash in some other form rather than keeping it with them to avoid taxes, and many buy Bitcoin. Some corrupt individuals buy Bitcoin instead of buying real assets to cover up their corruption. Some governments do not like crypto to prevent money laundering in their country.
I think an investor can benefit much more if he regularly accumulation Bitcoin instead of fiat. This is because if you deposit cash the value of fiat decreases due to inflation but if you deposit Bitcoin the holding will increase and you will get a higher return than the desired amount due to the possibility of its value increasing in the future.

[AmaGold70]

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, Politicians do buy bitcoin, but not all politicians are buying Bitcoin to escape the scrutiny of EFCC, and FBI. There are politicians who are investing in bitcoin with their own money, and not the one stolen from their office. For instance, somebody like the US president Donald Trump is a bitcoin fan, and a huge bitcoin investor. He is a politician, but didn't invest in bitcoin with stolen money. More also, even the corrupt politicians who steel government money, not all are familiar with bitcoin investing, and no matter how much you put in bitcoin, if you don't know how bitcoin investing works, and if you put huge amount of money in bitcoin, you may end up loosing your money do to market volatility, and fluctuation.

[Shineup]

You are right but i don’t think politicians use the money they steal from public to invest in Bitcoin because they know that it will affect them, did you know that there is some limit where you will have a money and you will be suspected because even the bank that you are using will investigate about the money you have in your bank account that is why some politicians don’t like using public funds in their account or use it to buy bitcoin easily, they can buy bitcoin but it will be with their earn money and the public funds they steal will be in their home and where they keep it in cash to use for other things like Campaign and other projects that will make them be re-elected.

Anything can be possible, politicians can do anything just to get what they really need. Bitcoin is uncontrollably and anyone that invest in the coin and save it in there wallet no one can get access with it even the bank so is even easy for politicians that are rich to used the money they get and buy bitcoin even the ones they steal. But what I really noticed I don’t see any politician that are focusing on all this crypto stuff is just business and what will make them to be at top and be elected they usually deal with fiat money not crypto they don’t have time for crypto investors all is physical business or land and keeps for long terms.

What are you even saying? Do you think that if a politician is in crypto stuff that they will come out publicly to talk about it? The answer is no because that will only drag unnecessary public attention to them so you can't say that since you don't notice politicians doing some crypto stuff or anything relating to it that they are not doing it infact politicians are doing it but you can't know about it because you are not close to them, this people have personal assistance or Aids in different areas including investments of which Bitcoin or any other crypto can be part of it, I will never argue if politicians are buying Bitcoin because is very much possible.

[leonair]

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?

Politicians are involved in corruption and they embezzle a lot of money. And in this case, they buy different types of properties to keep that money hidden. They never keep money in the bank. And in this case, if they invest in Bitcoin, it will be easier for them to keep their corrupt money hidden. So I definitely believe that politicians invest in Bitcoin and they are involved in Bitcoin. And that is why the price of Bitcoin is getting expensive so quickly. Because millions of corrupt money are going into Bitcoin. If politicians had not invested in Bitcoin, maybe Bitcoin would have taken a longer time to come this far.

[Rockstarguy]

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 agree with you. Stolen funds are best kept in cash by the politicians because this is not easily traced. Not just politicians, but also others who have stolen money. Politicians buy bitcoin but not in their name to hide their stolen funds because it can still be traced by this method, they buy for investing sake. Most politicians have a secret room that is meant for stolen funds that can be traced. This can be seen around the world when there is a change of fiat notes; this is the most confusing time for politicians because they don't know what to do about it, and some end up abandoning the cash.

[Chibit01]

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?

What you learnt is just you trying to convince yourself that those old criminals are using bitcoin to steal and hide there money because of it's privacy nature but the truth is; cash is the best way of stealing and hiding the money without trace which have been the way they are using, only few hundreds or millions of their stealing will they think of moving into crypto, they have all it takes to launder money without coming to crypto.

[topbitcoin]

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.

You are right but i don’t think politicians use the money they steal from public to invest in Bitcoin because they know that it will affect them, did you know that there is some limit where you will have a money and you will be suspected because even the bank that you are using will investigate about the money you have in your bank account that is why some politicians don’t like using public funds in their account or use it to buy bitcoin easily, they can buy bitcoin but it will be with their earn money and the public funds they steal will be in their home and where they keep it in cash to use for other things like Campaign and other projects that will make them be re-elected.

The problem is that as long as there is no concrete evidence of ownership the situation is gray.
 
There will likely always be situations where politicians let alone corrupt officials safeguard their proceeds but we will never know for sure and at the moment it will mostly just be presumption even though we are sure it is always a possibility.

As long as they don't disclose their addresses or portfolios then everything will just be a presumption but it will be a different story if they disclose their holdings then we can definitely confirm this further.
Buying bitcoin is something that anyone can do including for politicians regardless of their intention to hide evidence or secure the value of their money this is a goal depending on their respective reasons, it's just that here what needs to be emphasized is the possibility of politicians or officials buying is still very large.

[aoluain]

Of course politicians opted to buy Bitcoin.

The OP assumes there are only politicians in the US or that only US citizens use the forum
so yea politicians from around the world certainly have Bitcoin for more than likely the
same reasons a lot of us have like a hedge against inflation which they themselves create!

As for cash - yea maybe some use that but to say every single politician prefers cash is a
massive generalisation. Bitcoin has to be attractive to some percentage of them too.

[o48o]

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?

What are you talking about? If anything, they would be more under microscope when trying to launder some hidden cryptos. And BTC is probably most tracked currency out there so using it to hide money isn't really efficient, when FATF wants to know the origin of your btc anyway.

And why would you single out "politicians" (which is a vague umbrella term) as someone interested in hiding their money? If you are talking about bribe money, it's not only politicians that get bribed. People are trying to bribe other people in every sector of life. And again, money laundering would be way more practical with something other then btc.

[Powerjumboo]

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?

A politician has no end to his money, especially politicians of this time. They prioritize money the most. If they prioritize money the most, then I think they have no end to their cash. They can keep their cash in banks and in foreign countries and build buildings everywhere. But they can also keep Bitcoin in their wallets because if you keep money in Bitcoin, no one will see it and no one will suspect it. However, many politicians are depositing Bitcoin and using it because Bitcoin is now popular and in demand.

[Felicity_Tide]

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

There is a possibility, especially in countries where accountability is a complete joke, and the government itself can't keep track of every single thing. Other countries with a better working system might not be the same... So, i guess that's where cash/properties comes in handy. At the end of the day, whatever they choose to use_{(cash, bitcoin, or even properties)} is not really the problem... We just happen to have too many greedy people who're filling several governmental positions, but are representing themselves.

[Lida93]

Snip

I agree that some politicians and rich people may seek to save their money outside the scope of money. The large cash stored for years may get damaged, lost or found whereas assets such as bitcoins are more easily stored and transferred. However, Bitcoin is not completely anonymous as every transaction is recorded on a public blockchain. Even if someone would try to hide money using Bitcoin there are still risks if their identity would be tied to the addresses of their Bitcoin wallets. Bitcoin is a good store of value. But not an ideal solution for anonymity, as blockchain analysis is becoming increasingly sophisticated.

Okay it's true about linked identity with a certain address(es) and it could even be more regrettable for such an individuals than when they had fiat as only option. But on the other hand there are still smart people that knows how not to get their wallet address captured with their identity, they avoid using Cex.
What do you think about the use of a non custodial wallet as storage and also default privacy coin like monero XMR and use of mixers for transactions.

[RockBell]

How are we going to know if they truly buy bitcoin or not when they are not coming to the public to declare their holding, politicians are very corny in their actions, some of them are truly bitcoin investors while sun don't even have an idea how to invest on Bitcoin, but when it comes to the financial demand that requires them to have the ability of investing, I don't think they will have to find a challenging to be able to afford investing as they have such ability of investing.

We can not exactly be able to tell if they are buying or not because for so many reason they won't want to any one to know but am very sure that majority of them are buying, as far as they are into stocks there will be some that will choose stocks over anything because Bitcoin investments does not choose who wants to invest or not and am sure that majority of them will not have any idea about Bitcoin but they have people that will manage it for them, because they don't have the time because there other pressing issues than for them to start studying about Bitcoin.

And since they have the resources then they don't have anything to worry about because one of the things that matter most is the funds so people need to take it seriously and that is what politicians have at hand. They have people to manage it for them they just fund and then buy.

[Sonia_123]

For sure, bitcoins is meant for everyone and I want to believe that it will serve as a means for the politicians hiding their stolen funds form the public and the government.

Now Bitcoin has made it more easier for anyone to hide their asset from one another, their family members, banks and others that is why there is more Increase in theft most especially from politicians.

[Abu-Naim]

For sure, bitcoins is meant for everyone and I want to believe that it will serve as a means for the politicians hiding their stolen funds form the public and the government.

Now Bitcoin has made it more easier for anyone to hide their asset from one another, their family members, banks and others that is why there is more Increase in theft most especially from politicians.

We can’t support them to use BYC as the channel to hide their money laundering activities because Bitcoinnwas not created to promote fraud, it was created to gives us financial freedom even though some people are using the privacy it has to launder money, so it is possible for people to use it for money laundering, but yet it can be traced just that people that knows how to use Bitcoin really well will get away with it because they will avoid the use of exchange that will expose them.

I am not backing the use of BTC for any illegal money laundering as the OP said, I will want politicians to invest in Bitcoin for future purposes but to hide behind it to cheat their citizens.