Ginko Stays Adamant On Claim That Russia Is Buying Bitcoins

By Sumedha Bose

The Russian economist, Vladislav Ginko, who had earlier stated that Russia is looking to invest in Bitcoins and buy $10 billion dollar worth of cryptocurrency, is not budging from his claims.

Despite having received vehement criticism for his assumptions and comments, Ginko is still sticking to his previous statement, that Russia has imminent plans to invest $10 billion USD in Bitcoin.

Ginko had said that this move was being made to reduce Russian dependency on the USD. However, we earlier reported that the Russian officials had dismissed these claims.

Elina Sidorenko, the chairperson of a group dedicated to cryptocurrencies, established by Duma, was the one to publicly deny these rumours. The statement made by the official was:

“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”

However, Ginko is not willing to let this deter him. When giving an interview to an Australian news outlet, Ginko laughed and brushed away the fact that the Russian officials had denied his assumption. He said ”Who denied it? Vladimir Putin?”

His views and comments have been widely critiqued, both by Russian officials and netizens of social media. The major blockchain news outlets too, have refused to accord any legitimacy to his predictions.

If you are asking yourself, why does nobody trust Ginko, then we have the answers for you. The man has had a troubled past, since most of his predictions have not always proved to be true and they do appear to be exaggerated. For example  in November last year, he predicted a USD 2 million valuation of Bitcoin in 2019, which as we all know, is far from the truth. Which is why, it is advisable to take his predictions with a grain of salt.

Russia has maintained a somewhat anti cryptocurrency stance, with local bands on adverts or trading of any kind. Keeping that in mind, a prediction like this seems bizarre and almost impossible. We’ll have to see if there’s any truth at all in this statement.