Post
Topic
Board Economics
Re: Russia to replace USD reserves with Bitcoin
by
Decksperiment
on 18/05/2019, 11:12:03 UTC
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 .



For a country or government, i am little doubt about this news. Bitcoin could be a digital asset but to be government reserve, i think its too far and need more time because for government, its more safe to collect more gold than bitcoin. Bitcoin is risky assets compare gold and gold already known for centuries

I agree! I think its too early to tell that Russia is contemplating on this matter since USD is an international currency and its not easy to replace or implement any replacement to it especially if we are talking with it involving multinational economies. Unless BTC becomes a popular alternative to USD and mass adoption is full blown, then I think Russia maybe getting a hard time doing it or could suffer ill effects related to its alleged plan if they try to pursue it.