Quote from: salty on May 03, 2019, 12:56:49 PM

Quote from: Supercrypt on May 02, 2019, 02:55:02 PM

Quote from: Beerwizzard on May 01, 2019, 08:56:44 AM

Quote from: Mbitr on April 30, 2019, 04:37:11 PM

Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.

https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/

This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .

It can't be logical until Bitcoin becomes stable. All those monetary reserves are first of all made to save the money and not to get any profits out of it. So bitcoin can't be reserve currency for such a big country like Russi then first it should become stable to secure the financial safety of the country and then it should have enough liquidity to make it possible to use this money. For this time we don't even have enough liquidity for that.

I agree with you on this, they might not really make it a reserve since the market is still very volatile and quite risky, but at the other hand, it is a game of luck, it will favor them more if they do so now that the market is just recovering, imagine that they put part of their reserve in BTC now, lets say 10 billion dollars, and BTC multiplies by 10x tomorrow, it means their reserve would have become 100 billion dollars. We can see that bitcoin has indirectly solved their economy crises without them knowing.

I am sure they would have explored this option with the help of experts and will look for the right time to come in; those are part of the reason why I believe that the bull run of BTC is very close by.

Bitcoin will never be stable.Russia will not invest the money in bitcoin.This is contrary to the country's strategy.Yes this year will be tested in some areas the use of new technologies including cryptocurrencies.But I think it is not necessary to associate this event with the purchase of a large number of bitcoins.As far as I know, Russia as of 2014 has become the largest buyer of gold but not bitcoin.Although to ignore this news is so not worth it.We don't know what's going on in the corridors of power.

For the fact that they have invested in Gold does not mean that they will not also invest in Bitcoin, you think government will keep all their eggs in 1 basket? They might have gold reserve and still have bitcoin reserve.

Between Bitcoin and Gold, which one do you think will be easier for them to sell and easily sold, it will be bitcoin, even digital gold does not sell fast as much as bitcoin sells globally, I am not supporting ops claim 100% because it cant be possible, but I can guarantee that Russia will definitely have invested in bitcoin too to secure the future in case of recession.