As we hear the recent rumours that Russia's usual reserve currency, the US dollar, is to be replaced by Bitcoin, we can only assume the acquisition is both politically and financially stimulated.
Many believe it is an attempt to exhibit a move away from the reliance on the US dollar, regardless of Russia holding a record-high $462.1bn in reserve. This alternative reserve has been perceived as a way to circumvent US Congress-imposed sanctions onto Russia; ones imposed following US intelligence claim Russia's interference with the 2016 US presidential elections, the attempted assassination of former Russian Military officer Sergei Skripal and others. Despite Bitcoin's depression in value during 2018 (where the cryptocurrency's value dropped from $230.9bn to $66.6bn by the end o...
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