Russia Buying $10 BILLION of Bitcoin?! LOL, sure

Russia is buying ten billion dollars worth of Bitcoin to evade US sanctions is that true what's up everybody it's your boy crypto Bobby hope you are having a great day great night wherever you are watching or listening in from and yes that is the hot new rumor on the crypto Twitter internet streets is that Russia is buying ten billion dollars worth of Bitcoin to evade US sanctions and coincidentally when this news rumor started to circulate the price of Bitcoin and also basically all the crypto assets in the cryptocurrency market jumped about five to 10 plus percent on the news but is this actually anything worth even thinking about what would the potential implications of this be or is this just a load of stupid horse crap that is flying around on these internet streets that we should dismiss and treat with extreme caution well let's talk about that and a lot more in today's episode let's go so this morning on January 14th of 2019 the very credible and very well respected in journalism institution The Telegraph specifically their technology intelligence division published this Russia plans to tackle US sanctions with Bitcoin investments as Kremlin economists and there is a picture of our man Vladimir Putin and it goes in to say this Russia is preparing an investment in Bitcoin to replace the US dollar as a reserve currency in a bid to tackle US sanctions according to a Russian economist with close ties to the Kremlin now it goes on to say and this is vladislav definitely butchering that pronunciation ginko says this the russian government is about to make a step to start diversifying financial reserves into Bitcoin since Russia is forced by US sanctions to dump US Treasury bonds and take back US dollars mr. ginko said so essentially saying yes Russia is going to start buying up Bitcoin which could be as much as 10 billion dollars worth now here's the problem problem is that ten billion dollars is currently 15 percent of the entire supply of bitcoins market cap and that does not take into consideration the number of lost Satoshi coins as well as just the number of general lost coins that are currently in existence as well so we're talking about probably closer to 20 percent of the entire market capitalization that this Telegraph and Zero Hedge article will get into all of that but that these articles are rumored that Russia wants to buy also we want to take into consideration how this might even happen whether we're talking about literally a country buying spot Bitcoin whether it's mining and then I see people I was kind of negative or joking about this happening on Twitter and people are saying you know why are you being so negative they could be mining this they can be buying this OTC the likelihood of a foreign entity or just anybody literally being able to accumulate ten billion dollars worth of Bitcoin right now as a long is very very very small there's just not enough liquidity on the books the books for a theory in the books for anything below that certainly not but the books for for Bitcoin even I mean you're talking about twenty percent essentially of the liquid market cap that's that's crazy to think about in general and I just think these rumors are funny but just outrageous and when you look at the Bitcoin chart today first of all we had the wonderful Bart Simpson chart happen I was skiing this weekend and checked I think it was around yeah 11:00 a.m. yesterday on the January 13th where over the course of one hour Bitcoin dropped about five percent or so kind of moved sideways for the past really 24 hours and then we saw a candle shoot straight up actually even above where it was previously the other day and people were of course attributing these rumors are attributing this market movement to the rumors that came out about Russia acquiring ten billion dollars or not necessarily yet acquiring but going to acquire ten billion dollars worth a Bitcoin I do want to say when you look at these articles as well as when you think about this stuff in general number one if Russia hadn't bought ten billion dollars and in my opinion there's no freaking way in hell that Russia bought ten billion dollars that Russia accumulated twenty percent of the Bitcoin supply without making the price move upwards that just wouldn't happen but even if they were to do so in the future why would they come out and say hey we're gonna buy all this stuff and then let that potentially affect the price so number one that's stupid in and of itself number two we look at this stuff consider the credibility of who is posting this we have the Telegraph which is very much equivalent to the Wall Street Journal or whoever I'm kidding I'm being sarcastic then we also have Zero Hedge post in this Russia prepares to buy up to ten billion dollars in Bitcoin to be evade US sanctions so zero hedge another incredibly credible source posting that this information so this is something that I think okay would I like a foreign country to or what I like any country the US Russia China whoever the hell it is to buy twenty percent of the Bitcoin supply probably not at this time probably not would that pump the price of my crypto yeah it would it would pump that to the frickin moon but also just being realistic I don't think that there's any chance of that happening and this just kind of brings me full circle to the point of right now and obviously this has continued to happen and continue to happen and continue to happen but people will grasp for any straws to justify price movements and there is still a vast degree of manipulation in the cryptocurrency markets as I've said before and as a lot of you guys know when you're talking about cryptocurrency people look at technical analysis quite a bit fundamental analysis you can kind of look at in the case of aetherium with the in Constantinople arch pork that's in some cases really fundamental analysis but there really is no proper way to value cryptocurrency there is no formula there is no specific way in which you are supposed to be valuing these assets could they be valued at zero yes could Bitcoin be valued at $100,000 yes couldn't be valued anywhere in between yes there is no specific formula and anybody can look at the chart and anybody can look at a number of different numbers and data points and manipulate that to think what they want to think but when you look at this this is just another kind of attempt by people in my opinion to justify price swings and also to pump their own bags and your boy Bobby isn't falling for it I don't think that there's any chance that this is happening I think that this is ridiculous and that is my own personal opinion on the subject now it's time for a little throwback Thursday even though it is Monday because at this time last year January 4th 2018 we were really at the top of the altcoin bubble Bitcoin at that point in time exactly a year ago January 14th Bitcoin was at fourteen thousand dollars coming off its dip from 20 or 19 to 20 thousand dollars we had a theorem on January 14th at $1300 XRP was a dollar 90 for Bitcoin cash was over $2,500 to put things into perspective the market capitalization for a theory amir 4/8 was 132 billion dollars last year right now the entire cryptocurrency market cap of all the cryptocurrencies on the coin market cap is less than 125 billion dollars so the price of a theorem or the entire earth market capital last year exceeded where we are at right now I think that it is pretty incredible the level of pullback we've seen also how overextended things were at this point in 2019 the level of euphoria that I think a lot of people felt also the just level of FOMO that was kind of whipped up looking back really one the more incredible times that I've personally experienced one of the more crazy times I think a lot of people have have experienced and I think one of the things too that is interesting is the number of people that actually saw this degree of pullback happening and how minimal that was especially at this point in time in January of 2018 a year ago I think a lot of people had these massive predictions I myself thought Bitcoin would be worth more than $14,000 at the end of 2018 obviously that was not the case but even in kind of the circles of some of the most professional investors out there I'm in a few telegram groups with some of the like larger professional investors like people that have 10 15 20 years of Wall Street experience and are managing tens and hundreds of millions of dollars in the crypto space and there were polls that were taken and I think I'm remembering this right the lowest prediction somebody had it was about mid 2018 there was a poll that was conducted where I was guest the end of your market cap for the entire cryptocurrency market at the end of 2018 and the lowest guess the lowest guess was 200 million dollars in market cap and a lot of them were kind of mid actually made 200 billion dollars but a lot of them were you know basically half a trillion dollars some were even over a trillion dollars in terms of the estimation and it goes to show that even some of the most educated people in the space underestimated the degree in which the market could pull back from the highs of mid January of last year so to wrap things up when we are looking at news that comes out specifically as it relates to Bitcoin and other cryptocurrencies always take into consideration the source of the news as well as the likelihood that this is possible as well as the incentives around the people who are releasing it kind of behind it looking at this is Russia buying ten billion dollars worth of Bitcoin in my opinion it is highly highly highly unlikely and anybody who does not take this information from the Telegraph and from Zero Hedge with a grain of salt is a little bit crazy if Russia comes out and buys 10 billion dollars worth of Bitcoin spot on exchanges or OTC whatever it might be I will eat my words I will also be a very rich man or a richer man than I am right now which is coincidentally not very rich because bitcoins price is down quite a bit but always take into consideration where this information comes from as well as the incentives of those behind it I really don't understand why the economists from Russia would come out and say hey we're gonna buy Bitcoin a month before we're gonna buy Bitcoin just doesn't make sense it's stupid also getting it to the fact that why would Russia even want to be diversifying into Bitcoin when it's already diversifying into a bunch of other foreign currencies as well who knows I don't know not that for me to decide but I will take this information with the fattest grain of salt that you can find and as I said I highly highly doubt it and I think anybody getting really excited about this news is just trying to fill their own internal biases and wanting the price of Bitcoin to go up as much as I want the price of Bitcoin to go up I'm not just going to take every piece of positive rumors and positive news and spoon-feed II that and tell you everything is fantastic so that's my personal opinion on it also crazy to think about where we've come in the past year really or where we've dropped from in the past 365 days and hope that for you that you've gotten a chance to hopefully learn something you minimize your losses and things have hopefully not been the worst year for you in general outside of that guys with that being said I hope you enjoyed this video of a couple other interviews coming up with some people in the crypto space in the Bitcoin space as well it's just in the cryptocurrency space in general that I'm trying to set up this week's I should have something for you on Thursday and Friday that you should be enjoying very much outside of that hit that thumbs up button if you enjoyed this video if you'd like to subscribe if you're new to the channel would love to have you here thank you so much for your time crypto Barbie signing out hope you have a good one peace

38 thoughts on “Russia Buying $10 BILLION of Bitcoin?! LOL, sure”

  1. So say I secretly acquired 10 billion in bitcoin over the last month or so and announce it to help pump all the coin I just got why wouldn’t that make sense to inflate the price

  2. One of my greatest fears today is what cryptocurrency is doing to this generation of business people. When ever i go online to read the news on cryptocurrency (i follow some in particular), i notice a lot of jargons being said and to crown it all, the news always ends with the acronym 'Hold On For Dear Life' which in my own opinion isn't a bad idea but holding on its own as done with stocks has its guiding principles which of course, nobody follows with crypto. People are not willing to find mentors, or learn the hard way but somehow believe buying and accumulating an asset as unstable, unpredictable and speculative as bitcoin will someday make them millionaires. One that particularly drives me nuts is a particular Wilson going about all channels and flooding them with 20,000 xrp will be life changing in 5 years. The truth is that holding onto 20,000 xrp or 50 btc in 5 years time may altogether wreck you emotionally because nobody can boast and say what the future holds for cryptocurrencies. What you should do is make use of an opportunity that presents itself while still in its useful state. Trading with the right combo of expertise, tools and advice is what will change your life not in 5 years time but perhaps in 5 weeks time if you know just what to do. Today, bitcoin is struggling with shifting supports and resistance in and around the $4,000 region and this is currently bitcoin at its most predictable state and position to realize great profit in trading. This is quite risky for newbies and intermediates so i would recommend an expert like Mr Mark Hall whose signals and trade strategies today are some of the greatest and most accurate in the crypto space. All you need to do is find such a person and seek his opinion and guidance on how you can get good and consistent profit trading bitcoins and you would ultimately see reasons in your results why hodling is such a risky move to make. You can mail Mr Mark Hall on [email protected]

  3. Crypto Bobby, I'm not contradicting you about the chances are that the Russian Federation govt is announcing ahead of time that they'll buy $10B worth of BTC, but… What you say aboot buying 20% of all the BTCs is FALSE. If a state actor sized whale began buying BTC it would drive the price up as you mentioned, and that actor would end up with far fewer BTC in order to own an amount with a market value of $10B than they would if the price did not rise.

    The language of "Evading sanctions" makes it sound like they're trying to do something shady, when in fact what they need to do is protect themselves against the inflationary $US, which is also becoming less useful to them as a means of exchange thanks to the US economic sanctions. When anyone wants to protect themselves against fiat inflation they buy non-inflationary assets such as gold or BTC. For this purpose it doesn't matter too much to the Russian govt if the BTC price runs up prior to their buy, because they're goal isn't speculative gain but inflation protection. Diversifying into both gold and BTC might be a good way to achieve that goal.

  4. Hahahahha if that happend BTC will just rise 20 % max price will be around 4300 $ hahahaha sure not a big jump

  5. Why should Governments buy BTC? Whoever have the BIG MONEY will just create their own "coin" which they will force us to use as the new electronic paymethod of the next world.

  6. So whos to say they would buy $10 billion dollars at one time. That is stupid. Could be overtime. Or it might not be true. No one knows. Could be FUD. long term hold here. None of this matters.

  7. You talk so much bla bla. It is ofc just something they say to scare USA. If they was going to do that they would not say it. It is as simple as that. Or the already did it over the last year.

  8. lol they can not buy 15 or 20% with that money. the price go up when they buy so much xD they cant buy all at same price

  9. $10bn = no fomo. No lambos in 10bn movement, maybe $500 price swing. Soro's bought $23bn in April and has been curling 1/2price bags. MF'er getting swole!

  10. Russia: Fabulous !!! No more bitcoin circulation!! LOL. πŸ˜±πŸ˜±πŸ˜±πŸ˜±πŸ˜±πŸ˜±πŸ˜±πŸ˜±πŸ˜ˆπŸ˜ˆπŸ˜ˆπŸ˜ˆπŸ˜ˆπŸ˜ˆπŸ‘πŸ˜ˆπŸ˜ˆπŸ˜ˆπŸ˜ˆ

  11. Hmmmm, What if Russia was already quietly buying Bitcoin for months OTC and now are saying this? 10 billion is absurd. But this sort of manipulation maybe not.

  12. Or maybe 10 Billion Crypto across the board, not just bitcoin, all of a sudden a whole new world opens up eh?

  13. Russian trolling. You must be stupid to believe this nonsense. As if some random professor from the government had the competence to announce such fundamental plans. Ridiculous.

  14. Russian central bank has just purchased $100 billion of renminbi, euro and yen. Story stems from ONE dude. Bogus.

  15. I agree with the sentiment. However, just for your information the Daily Telegraph is a reputable broadsheet here in the UK. Some call in the β€œTory”graph for its conservative bias.

  16. Good video and analysis Bobby but I need to correct you regarding the Telegraph….it is actually one of the most respected newspapers here in the UK.

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