Last night we saw a potentially groundbreaking headline…
Unfortunately, this is not an official statement from the Russian Federation itself but from an economist named Vladislav Ginko, who is part of a state-run think tank. Still, the idea seems tantalizing.
Following my recent discussions with Professor Ginko and other Russian Government insiders, it appears there are several possible paths for them to implement this. Obviously, given the current regulatory and infrastructure environment, they can’t just open an account at a crypto exchange or even obtain them on the OTC market.
More likely, they’ll need to set up an intermediary service, possibly introducing a new crypto coin, possibly through an already established financial institution, to help facilitate.
Though we understand that Russia and a few other countries are very interested in de-dollarization, we can only speculate on how close they are to replacing it with bitcoin.
Still, I can easily foresee a future where the governments and central banks of the world are holding large amounts of bitcoin in their national reserves similar to the way they hold gold today.
eToro, Senior Market Analyst
Shutdown: Day 19
Coming off their shorts
Please note: All data, figures & graphs are valid as of January 9th. All trading carries risk. Only risk capital you can afford to lose.
Shutdown: Day 19
Stocks are in the green today. Continued progress in the US-China trade talks and a softer than expected stance from the US President regarding the southern border wall, seems to be generating an appetite for risk among global investors.
Accompanying this positive atmosphere,