Russia May Put $10 Billion into Bitcoin in Q1 2019

Russian Economist Vladislav Ginko has said that he expects the Russian government to invest at least $10 billion from its national reserves into Bitcoin in the first quarter of 2019. The investment, he believes, will help alleviate some of the damage from US sanctions.

Ginko spoke to Australian publication Micky about the possibility, saying,

US sanctions may be mitigated only through Bitcoin use. Because of US sanctions, Russia’s elite is forced to dump US assets and US dollars and invest hugely into Bitcoins. The Central Bank of Russia sits on $466 billion of reserves and has to diversify in case there is limited opportunities to do it.

The decision…

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