Did Politicians buy bitcoin?

[Royal Cap]

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, it is true that corrupt politicians or powerful people can use various assets to hide their wealth and Bitcoin can also be on that list, because it is easily transferable and provides some freedom outside the traditional banking system. However I think it is difficult to explain the price increase of Bitcoin only with this reason. The adoption of Bitcoin has increased due to the interest of retail investors, institutions and people from different countries. Another thing is that Bitcoin is not completely anonymous.  All transactions are recorded in the Blockchain, so it cannot be called a perfect tool for hiding large amounts of money. Some of the money from corruption may go to Bitcoin but I do not think that Bitcoin's current market size and adoption are created only by that money.

[knuckey]

They might invest, but I'm sure not all of their stolen money will be invested or laundered. Most of the money (in physical form) will be kept with them, either stored in a giant trunk, a safe, or even underground. This is safer, they believe, than storing assets in Bitcoin investments. But it's possible they will invest as well.

[Bushdark]

They might invest, but I'm sure not all of their stolen money will be invested or laundered. Most of the money (in physical form) will be kept with them, either stored in a giant trunk, a safe, or even underground. This is safer, they believe, than storing assets in Bitcoin investments. But it's possible they will invest as well.

Some of the stolen money can also be used to buy Bitcoin since there is no way people can know that they own the Bitcoin.
Bitcoin is decentralized and it's very hard for people to know who have those big portfolios of Bitcoin and buying and holding Bitcoin has been an easy way to hide most to the stolen funds they were able to embezzled from the government purse.

The bad politicians and those drugs dealers and scammers are not different from each other and their agenda have been to make more money, looking for a safe way to keep them so they the government will find it hard to track their savings which they must have hidden in physical cash in an unknown places and also buying Bitcoin to keep in their privacy wallets.

[puloweh555]

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.

Yes, that's right. Bitcoin is like a knife because it can be neutral, depending on who holds it and what it's used for. It's undeniable that some parties, including politicians and corrupt individuals, try to exploit its decentralization and anonymity to launder money or conceal their ill-gotten wealth.

I mean, money laundering with Bitcoin does happen frequently, but I don't think it's the biggest issue. Most money laundering worldwide especially among politicians, still uses fiat currencies, buying property, gold, art and creating foreign bank accounts. So, as you said Bitcoin use depends on its users. Ultimately, the main problem isn't Bitcoin, but corrupt politicians.

[Sulegzy39]

Anything is conceivable; politicians will go to any length to acquire what they want. Bitcoin is uncontrollable, and anyone who invests in the coin and saves it in their wallet has no access to it, including the bank, making it easier for wealthy politicians to utilise the money they receive to acquire bitcoin, even if it is stolen. But what I've noticed is that no politician is focusing on all of this crypto stuff; they're more concerned with business and what will get them to the top and elected; they deal with fiat money rather than crypto; they don't have time for crypto investors; everything is physical business or land that lasts for long periods of time.

Yes, it is possible that many politicians hold Bitcoin. It doesn't necessary suggest that they're laundering money; it may just be an investment. While politicians are not known for their honesty, we cannot say that politician + Bitcoin = fraud because it would imply that decentralisation + anonymity = fraud.

[As-Soon-As]

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 choosing Bitcoin to keep their money safe, because Bitcoin is generally used by good people and for good deeds and for economic prosperity in the future. But politicians are using it differently, so I will not blame Bitcoin in any way because the fault lies with politicians. Politicians are using Bitcoin to keep their money safe, so they are investing their immoral money here.
Because corrupt countries, politicians are using the most power to take the money for themselves, so they choose Bitcoin to keep that money secret and hidden from the eyes of the people.

[Peanutswar]

I dont think so they will disclose this kind of matter you know how the politicians work most of the corrupts they will deal all money hidden as possible just to avoid being trace and detected most likely related into banks. Here in the PH the politicians must need to submit a Statement of Assets, Liabilities, and Net worth (SALN) just to prove they aren't corrupt now if they are engage with the crypto and hidden their funds right there for sure they will not share that they are engage with the crypto just to preserve their wallet anonymously and the worst case is once get exploited someone tried steal their funds or even direct to their house just to steal physically.

[MarjorieZimmermanGinger]

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?

Many of them have fiat money stored in foreign banks and many are also buying property or other assets. Many of them may also be buying Bitcoin for specific reasons and their authenticity may be difficult to verify at this time. If asked whether politicians buy Bitcoin, the answer depends on the individual, as many are still unfamiliar with Bitcoin or are relatively new to it. If they buy Bitcoin for security reasons or fear of fraud, it may not be entirely safe if they don't understand privacy, meaning politicians are far more likely to buy other assets like property, land and so on. Another fact is that some of them, both honest and corrupt politicians, may have invested in Bitcoin for specific reasons.

[harapan]

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?

That could be possible honestly.

Those of these politicians educated enough can attest what freedom that comes with Buying and holding bitcoin but the same politicians brush off discussions when it is time to make it a legal entity benefiting the people. The sensible still buys gold, silver and Bitcoin, while the opposite go on building hotels for themselves.

[Alonso_]

Majority of the politicians have cash that’ is buried underneath the earth, this was an old practice, and I believe it was working for them, but right now I still believe there are people who are having the same experience, and they have people who are keeping money for them, and now that bitcoin is now available and other cryptocurrencies, they can decide to buy bitcoin and stack the bitcoin for money and keep buying in large quantities, because you can’t just keep money in bitcoin and leave it for years without continuously buying and stacking of bitcoin, and you should also understand that there is always different patterns where politicians are keeping and stacking money somewhere safer for themselves, not only bitcoin.

[Nothingtodo]

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 definitely buying Bitcoin because in my country, political party leaders and activists are laundering money and hiding black money through Bitcoin, especially if it is mixed through a Bitcoin mixer, which the Anti-Corruption Commission has no way of finding out. Moreover, the millionaires and billionaires in my country are basically buying Bitcoin and holding it in a safe wallet instead of keeping money in the bank so that no one can target that hidden Bitcoin in the future.

[Agathamay]

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?

i don't know the basic reason fro their buying but i haven't seen a place or law restricting politicians from buying bitcoin and on that note, i thin yes that politicians also buy bitcoin but in the mean time, i also haven't see or heard any public claims of them buying bitcoin.
i'm  sure most of them who already know about the coin are already taking advantage of it but they can't actually come out publicly to declare it because it would raise a lot of talks and would also require them to declare it as their asset when next they come out for elections.

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 definitely buying Bitcoin because in my country, political party leaders and activists are laundering money and hiding black money through Bitcoin, especially if it is mixed through a Bitcoin mixer, which the Anti-Corruption Commission has no way of finding out. Moreover, the millionaires and billionaires in my country are basically buying Bitcoin and holding it in a safe wallet instead of keeping money in the bank so that no one can target that hidden Bitcoin in the future.

is there any actual proof and evidence to what you have just said?
i think your post is more of an assumptions than a fact because if it is, then you ought to have some sort of evidence please write it with some sort of  words showing assumptions (i hope you don't get me wrong but also se it as a way of correction.)

[Ayers]

Politicians are definitely buying Bitcoin because in my country, political party leaders and activists are laundering money and hiding black money through Bitcoin, especially if it is mixed through a Bitcoin mixer, which the Anti-Corruption Commission has no way of finding out. Moreover, the millionaires and billionaires in my country are basically buying Bitcoin and holding it in a safe wallet instead of keeping money in the bank so that no one can target that hidden Bitcoin in the future.

Bitcoin is known for its transparency because every transaction is public and can be checked and verified by anyone. But the way you argue makes Bitcoin sound like it is contributing to corruption and money laundering by politician

Corruption among politicians has been a problem for decades long before Bitcoin was created. They have no shortage of way to cover up their corrupt practices, they do not necessarily need Bitcoin.

Politicians are definitely buying Bitcoin because in my country, political party leaders and activists are laundering money and hiding black money through Bitcoin, especially if it is mixed through a Bitcoin mixer, which the Anti-Corruption Commission has no way of finding out. Moreover, the millionaires and billionaires in my country are basically buying Bitcoin and holding it in a safe wallet instead of keeping money in the bank so that no one can target that hidden Bitcoin in the future.

is there any actual proof and evidence to what you have just said?
i think your post is more of an assumptions than a fact because if it is, then you ought to have some sort of evidence please write it with some sort of  words showing assumptions (i hope you don't get me wrong but also se it as a way of correction.)

That is definitely just his assumption. Because, as he said, politicians are using Bitcoin to hide their activities and illegal fund. How could he possibly know or have evidence of that?

[Mandoy]

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 definitely buying Bitcoin because in my country, political party leaders and activists are laundering money and hiding black money through Bitcoin, especially if it is mixed through a Bitcoin mixer, which the Anti-Corruption Commission has no way of finding out. Moreover, the millionaires and billionaires in my country are basically buying Bitcoin and holding it in a safe wallet instead of keeping money in the bank so that no one can target that hidden Bitcoin in the future.

While I think it's pretty important to keep in mind that all politicians who buy Bitcoin aren't necessarily doing it to conceal stolen funds. There are several different types of users of Bitcoin. Such as investors, companies, government officials and regular people who view it as a valuable store of value. Although blockchain transactions are recorded and can be traced by specialized investigation firms, some corrupt people might try to use cryptocurrencies for money laundering. In fact, blockchain analysis has been used for the identification of many criminals. It's not Bitcoin that's the problem, it's corruption. There are several ways for politicians to launder money, and Bitcoin is just one of a number of financial tools they might use.

[Livingleged]

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 should  know is that  bitcoin wasn’t meant for a particular set of people only. It is open to everyone whether you’re a politician or an ordinary individual you can buy bitcoin for yourself and keep, if politicians find it interesting to invest in bitcoin that just fine, and it will only mean good to their wealth in the long run. Anyone that commits crime and think he’s using crypto to cover up should be ready for the consequences, it’s not like the crypto transaction are totally not traceable, but it’s just not the priority in the crypto industry. Anyone that thinks he’s going to use crypto to cover for their evil crimes then probably have just little knowledge about bitcoin and cryptocurrency as a whole.

[Cookdata]

They might invest, but I'm sure not all of their stolen money will be invested or laundered. Most of the money (in physical form) will be kept with them, either stored in a giant trunk, a safe, or even underground. This is safer, they believe, than storing assets in Bitcoin investments. But it's possible they will invest as well.

No wise politicians will steal public money and invest it into Bitcoin, they will be caught, they don't even deal with cash to begin with, the ones here work with managers to supply them cash and there is no OTC here where you can buy Bitcoin with it, you will be question and that's why when money miss, it doesn't have trace but the financial crime commission knows how this things are done because they have investigated thousands of polical cases.

What s some of them does is they share their cash into real estate they never used, they build abandoned buildings and never park or sell the estate and nobody will park in, it remain like thy until they have no pending investigation on their name before they either resale it or they leave it like that. Sometimes here when we see abandoned projects you will think there is no owner to them but there is, they re probably avoiding financial crime commission from retracing wealth to their name.

[X-ray]

I dont think so they will disclose this kind of matter you know how the politicians work most of the corrupts they will deal all money hidden as possible just to avoid being trace and detected most likely related into banks. Here in the PH the politicians must need to submit a Statement of Assets, Liabilities, and Net worth (SALN) just to prove they aren't corrupt now if they are engage with the crypto and hidden their funds right there for sure they will not share that they are engage with the crypto just to preserve their wallet anonymously and the worst case is once get exploited someone tried steal their funds or even direct to their house just to steal physically.

I have gut feeling that most politicians actually own bitcoin they just don't tell anyone for the reason you mentioned and also to avoid wrench attack. Many of them probably have hardware wallet for this.

On the other hand, majority of them maybe have bitcoin exposure through fund company they invested in, great deal of these companies are buying ETF for diversification and that means indirect ownership through investment fund.

If indirect ownership count, probably 60% of them can be considered owning bitcoin.

[Insanity]

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 coin wasn’t mentioned for a particular set of people. It is open to everyone whether you’re a politician or an ordinary individual you can buy bitcoin and keep, if politicians find it interesting i invest in bitcoin that just fine and it will only mean good to their wealth in the long run, any one that commits crime and think he’s using crypto to cover up should be ready for the consequences, it’s not like the crypto transaction are totally not traceable but it’s just not the priority  in the crypto industry. Anyone that thinks he’s going to use crypto to cover for their evil crimes then probably have just little knowledge about bitcoin and cryptocurrency as a whole.

I'm quite sure that Bitcoin is not the domain of any particular type of users. It is available for purchase to anyone, including politicians, businessmen, and ordinary citizens. Investment in Bitcoin does not mean politicians are hiding wealth or dodging financial scrutiny in and of itself. In fact, blockchain transactions are recorded forever and may be analyzed by investigators with modern tools which can trace the transactions. It is true that those who think cryptocurrency is the most ideal way to hide illegal activities don't understand what the cryptocurrency technology is all about. Financial freedom and self-custody are hallmarks of Bitcoin, but the security from law enforcement does not exist when crimes occur.

[Bigthraex]

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.

aggree that some politicians still prefer old and conventional ways of  storing wealth, like bask accounts, real estate and even cash hidden somewhere. I also think politicians are buying bitcoin even if we have not seen on the news. Bitcoin makes transfers across borders easy and offers protection against against currency devaluation. There may not be evidence that these politicians have bitcoin investment, I expect that there are some politicians that are accumulating it as a part of their portfolio.