Russia Is Considering a Shift to Bitcoin to Limit the Impact of U.S. Sanctions

Russia is now considering a shift to the use of Bitcoin in order to limit the impact of U.S. Sanctions. Reports speak of a Russian economist, Vladislav Ginko, who states that "I believe that the time is coming when other countries start doing that ...Russia has a brilliant chance to invest in heavily oversold Bitcoin." On Monday, the cryptocurrency news site Mickey reported a "large and unusual increase" in the volume of OTC Bitcoin purchases placed by Russian nationals. This is perhaps an indication of the further interest in Bitcoin inside Russia.

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