US dollar as a reserve currency might soon be largely replaced by Bitcoin which has started to show its acceptance by the Russian government in a move to tackle US sanctions that have hit the Russian rouble. This step will have a strong impact on the draconian and unilateral economic sanctions and trade tariffs imposed by Donald Trump’s regime.
Recently, a well-known economist and a lecturer at Moscow’s Russian Presidential Academy of National Economy and Public Administration, Vladislav Ginko, indicated that the Russian government is opposing the hostile attitude shown by the Donald Trump’s government and possibly musing to acquire $470 billion bitcoins to curtail the blow of American power which is in the form of foreign policy as a forceful US sanction.
The statements of a well-acknowledged economist are of high significance and reminding the seriousness of Russian President Vladimir Putin on account of showing interest and finding realistic ways to substitutes the dollar legacy which is an undue burden on the economy.
Not long ago, Ginko has turned up on Russian state television and radio, delivered economic commentary and mentioned about his recent work which has been considerably involved in motivating Russian officials that Bitcoin is the best way to allay the impacts of tough US sanctions against the Kremlin. Reported by Micky, a local Australian news outlet.
“Russia’s Government is not against cryptocurrencies, the Russian President put adoption of FinTech as a key factor for Russian economy’s survival.”
“We have no goal of moving away from the Dollar; it’s the dollar that’s moving away from us…
Because there’s instability when it comes to doing business with the dollar, gives rise to a desire – and it’s happening all around the world – to find alternative reserves currencies and create a financial system independent from the dollar.”
Vladislav Ginko expresses that the new and upcoming strategies to make the Russian economy stronger in the money war would certainly bring out the crucial and weighty outcomes. It is not confirmed yet, however, his evaluations suggest the quarter of the year would clear the illustrations.