Russian economist: government will use bitcoin to avoid sanctions

*The lecturer has been advising Russian officials that ‘Bitcoin is the best way to allay the impacts of tough US sanctions against the Kremlin’.*

A Russian economist has [told Australia’s Micky website](https://micky.com.au/russias-billions-could-trigger-bitcoin-bull-run-next-month/) that the Russian government may start buying bitcoin heavily next month to avoid incoming US sanctions.

*Vladislav Ginko, a lecturer at Moscow’s Russian Presidential Academy of National Economy and Public Administration, anticipates new US sanctions will force the Kremlin into diversifying its cash reserves into Bitcoin.*

*‘US sanctions may be mitigated only through Bitcoin use,’ Said Mr. Ginko, speaking to Micky from Moscow.*

*‘Because of US sanctions Russia’s elite is forced to dump US assets and US dollars and invest hugely into Bitcoins.*

*‘Central bank of Russia sits on $466 billion of reserves and has to diversify in case there is limited opportunities to do it (in the future).’*

A ‘Micky’, if you’re interested, is a young, untamed bull, so it shouldn’t come as a surprise that the angle of the article is how Russia’s problems will power bitcoin into the stratosphere for a new raging bull market.

Ginko has been making some insanely bullish posts on Twitter. There’s [this one](https://twitter.com/martik/status/1083045202967781376): ‘Investment funds in Moscow are engulfed with requests from wealthy Russians “how to buy for $ several millions Bitcoins”.’ While [his reply to another poster](https://twitter.com/martik/status/1082031829002129413) is even better: ‘I believe sitting here in Moscow, Russia, that the real factor of Bitcoin adoption will be when Russian government I’m working for will start investing almost $470 billion reserves into Bitcoins. I expect that it’ll be at least $10 billion in the first quarter of this year.’
[https://cryptoinferno.org/news/russian-economist-government-will-use-bitcoin-avoid-sanctions/](https://cryptoinferno.org/news/russian-economist-government-will-use-bitcoin-avoid-sanctions/)



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