Amidst various sanctions by the United States, Russia might buy Bitcoins in the Billions as a way to mitigate these sanctions.

According to Vladislav Ginko who is a lecturer at the Russian Presidential Academy of National Economy and Public Administration, the Russian government which sits on $466 Billion of reserves is planning to invest heavily into Bitcoin. He told Micky that he believes the government could start investing Billions in Bitcoin as early as next month which could potentially trigger a bull run.

Since 2012, the U.S has imposed over 60 rounds of sanctions against Kremlin, many of which do not have clear paths to get lifted. Sanctions are a way to achieve certain objectives (mostly political) in a nonviolent way, Russia certainly does not take this lightly and will try to mitigate these sanctions in any way possible.

Russia's Quest to Dethrone the US Dollar as a Reserve Currency
One of the effective ways to mitigate the sanctions is to navigate around the US Dollar. President Putin has been exploring alternatives to the US Dollar, he even said that the instability of doing business with the dollar is pushing the whole world to find alternative reserve currencies.

This is where Bitcoin could play a huge role, not necessarily in being a reserve currency at this point but serving as a hedge against other fiat systems and to diversify the portfolio.

Mr. Ginko says that the US Sanctions may be mitigated ?only through Bitcoin use? and that Russian elites are forced to move into Bitcoin by dumping US assets and the Dollar.

What do you think?