Post
Topic
Board Economics
Re: Do you think Institutions secretly HODL Bitcoin?
by
Lucius
on 01/02/2019, 17:03:44 UTC
It was not a politician

It was some random Russian economist saying something to that tune and then many Western media outlets were quick to pick up the "news". I don't know about Putin considering buying a few bitcoins now and then, but if this "plan" was actually enacted even for 1/100th of the amount rumored, prices would have already skyrocketed. In fact, I'm quite surprised that many distinguished and high-merited posters here seem to actually believe in this rumor. By that I don't mean idle theorizing and talks, of course, but rather taking this nonsense seriously

I never believed that the news was accurate, and I never even comment such news. It is unlikely that a government would announced such news and thus actually working against of their own interests to buy cheap. In fact crypto market is show no reaction on such news clearly showing what is thinking about the truthfulness of such news.

I do not know if Putin buying some BTC for himself, but it is not unrealistic that Russia is buying some coins same as some other countries. But if they doing that it is not something we can read in news, there are ways to do this in secret and without major market distortions.