Economist Who Affirmed Russia is Buying $10 Billion USD in BTC Responds to Doubts About His Credibility
Vladislav Ginko has recently talked to Micky, an Australian news outlet, to tell more about his story of how Russia is about to buy $10 billion USD in BTC. He defended his credibility that Russia’s movement has a strong correlation with what he said and that the allegations that his story was fake news were not the truth.
He even claimed on Twitter that nobody in the Russian government has actually denied his information. However, most of the crypto world was not very eager to believe him, either.
Some media state that "Russia Denies Buying $10 Billion in Bitcoin, Telegraph Story Fake News".I ask: WHO denies?Vladimir Putin?If you track my previous statements about Russia's moves then you will see strong correlation between these two things.Don't ask me why it goes such way
— Vladislav Ginko (@martik) January 17, 2019
The economist claim that the Kremlin would begin to buy crypto soon and that this is a move to diversify the reserves of the country as the US Congress is set to introduce a new sanction against Russia in February.
Ginko is well known for his… exaggerated predictions like saying that Bitcoin will be worth $2 million USD in 2019, which is simply almost impossible to believe taking into account recent price swings. He was also known for making tweets in the defense of Bernard Madoff, a known Ponzi scheme operator, which does not make him the most credible source ever.
However, Vladislav Ginko affirms that he lectures at the Russian Presidential Academy of National Economy and Public Administration in Russia and that the Kremlin is very serious about cryptos in their plans.
According to him, the major motive for the buy of Bitcoin would be to get away from US sanctions and to stop using SWIFT at the same time that Russia is “de-dollarised”.
Ginko’s Claims Contradict Russia’s Stance
What makes really hard to trust Ginko is the fact that Russia is not too keen on Bitcoin at all, actually. It has its own set of local crypto bans and very confusing gray legislation. These are not characteristics of a country that will spend a huge amount of money buying Bitcoin.
Despite this, Russia is now slowly developing plans to regulate the crypto market in the country in order to support its development, something that the country has decided to postpone for too long.