The Ruble is rapidly losing value, and the Russian government is considering seizing residents' cash.
Bitcoin appears to be an obvious solution for preserving your wealth in this circumstance.
However, is this even possible? What would a Russian do in this situation? Are they able to just transfer their Rubles to exchange, purchase Bitcoin, and then transfer it to a wallet?
And, if so, is it attainable? Will someone who has worked their entire lives and saved money for their family's future trust a strange technique to transfer that money to a USB stick?
It is easier said than done! It is possible in small scale and at personal level if some exchanger is willing to take rubble against bitcoin. However, at large scale, it is impossible considering the value of Rubble is constantly diminishing. So it is very very difficult to find an exchanger or a group of exchanger who will be willing to sell off their bitcoins to the Russians against Rubble.
The situation is much worse than Putin has expected. From today, Google Pay and Apple Pay has stopped their services in Russia. The process to cut off Russia from SWIFT network is ongoing. So I don't think Russian riches will be able to buy bitcoins against their Rubble. However, if we suddenly see an increase an stability in Rubble's price, that may become possible. But looking at the current scenario, it seems very very difficult.