Post
Topic
Board Economics
Re: Russia to replace USD reserves with Bitcoin
by
STT
on 30/04/2019, 22:40:59 UTC
Russia will repeat what they have done in the past which is store large amounts of foreign reserves in gold or similar commodity worth.    For the last 10 years both Russia and China have had a very strong bias towards gold over other holdings such as US dollar bonds.     Russia already had some gold and China mostly had no gold at all however its become both the worlds largest importer and producer of gold and also has a stake in gold mining operations outside its borders via its command economy

I think Russia is more positive then previous on crypto but I dont think they store any public funds in BTC.   I believe they might have secondary operations involved in crypto operated by friends of the state as it were but to say they will hold reserves in BTC instead of dollar I think is not correct.   Any large player being involved like that would be on the front newspaper globally and it would be very noticeable, 3rd party companies maybe