Hello guys, I came across this new development today. I expected it to be published already here, but I could not find it.

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Amidst various sanctions by the United States, Russia might buy Bitcoins in the Billions as a way to mitigate these sanctions.

According to Vladislav Ginko who is a lecturer at the Russian Presidential Academy of National Economy and Public Administration, the Russian government which sits on $466 Billion of reserves is planning to invest heavily into Bitcoin. He told Micky that he believes the government could start investing Billions in Bitcoin as early as next month which could potentially trigger a bull run.

Since 2012, the U.S has imposed over 60 rounds of sanctions against Kremlin, many of which do not have clear paths to get lifted. Sanctions are a way to achieve certain objectives (mostly political) in a nonviolent way, Russia certainly does not take this lightly and will try to mitigate these sanctions in any way possible.

Russia's Quest to Dethrone the US Dollar as a Reserve Currency
One of the effective ways to mitigate the sanctions is to navigate around the US Dollar. President Putin has been exploring alternatives to the US Dollar, he even said that the instability of doing business with the dollar is pushing the whole world to find alternative reserve currencies.

This is where Bitcoin could play a huge role, not necessarily in being a reserve currency at this point but serving as a hedge against other fiat systems and to diversify the portfolio.

Mr. Ginko says that the US Sanctions may be mitigated ?only through Bitcoin use? and that Russian elites are forced to move into Bitcoin by dumping US assets and the Dollar.

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Do you mean Fate of faith? These are 2 different things. In any case, the future is not written anywhere. in the long run, only those who have insights and convictions will benefit from crypto.

This is the kind of thread that speaks volume about the current mindset of crypto users/hodlers, and certainly the reason why crypto is not finding its way into mainstream.

Crypto should not be seen primarily as a mean to make quick profit. This is not (or should not be) the purpose of cryptocurrency. Investing in crypto should primarily be about reshaping the financial system in a way that is decentralized, centered on and beneficial to the people. It is about, Trustlessness, decentralization, transparency, immutability.

Then profits will surely come, and along a better world. Crypto is (should be) therefore a long term investment, not a speculative get rich quick scheme.

Exactly. It is all a matter of perspective.

Perhaps my answer comes a bit late, and certainly others may have said it already. Still, it would make sense for me to repeat it, as it is crucial.

There is no way you can be late investing into crypto. People who say that are more often than not, people looking for get rich quick scheme, and therefore focus only on the speculative aspect of altcoins/bitcoin. Truth is, people should invest into crypto not (only) for short term profits but more importantly, because they understand the liberating power for the people that comes with it. Crypto and to be more general Blockchain, has the potential to further the human battle for freedom transparency and equality. Crypto is just like the internet many decades ago: it can make the world more connected, more transparent, and to an extent more equal.

This, along with the potential profitability, should be that main reason(s) why people invest in crypto. And in that case, it is absolutely not late. I would rather say it is quite early.

#Golden