Quote from: NeuroticFish on Today at 08:43:01 AM

Don't rule out completely the option that some Russians may need to sell BTC for fiat (RUR, USD, EUR) for their daily spending.

Quote from: ETFbitcoin on Today at 09:42:04 AM

While i agree with your logic, i managed to find some BTC seller who accept RUB at HoldHodl[1]. But obviously the rate isn't fair. At time of writing the post, those seller charge 4-30% higher.

[1] https://www.hodlhodl.com/offers?search=1&side=buy&country=RU&include_global=checked&price_currency=RUB

As per above for @NeuroticFish I don't rule out from the start poeple selling BTC for RUB, since pretty obvious poeple have been doing so both in Venezuela and Turkey despite the huge depreciation of the currency but my point was that this is limited, you can't have billions worth of BTC suddenly changing hands and the few with serious connections through bank accounts and exchanges are able to slowly convert fiat to BTC and sell it while jacking up prices (as per your example) bit by bit, till it reaches the point of equilibrium.

Probably less than half of the pump is driven by this but at the same time, I don't exclude breaking 50k in a matter of days, even if it's not real demand and more likely FOMO.