Russia To Invest In Bitcoin? | Janauary 2019
This could be potentially huge for Bitcoin and the cryptocurrency market. Russia could be in the process of ditching the US dollar to sidestep US sanctions. Investing in Bitcoin will be Russia's way of mitigating those US sanctions. According to this article, the central bank of Russia sits on $466 billion of reserves and has to diversify before there are limited opportunities for them to do so. Russia wants to cut its dependence on the US dollar because of new US sanctions hitting their ecomonic infrastructure. If the Russian government and their elite class start to invest massively in Bitcoin then the price of Bitcoin could see a very quick and sudden increase in price.