A controversial economic analyst says Russia has just accumulated one million Bitcoin to avoid US sanctions. He can’t be serious, can he?
Vladislav Ginko, who says he’s a lecturer at Moscow’s Russian Presidential Academy of National Economy and Public Administration, forecast a massive purchase of Bitcoin by the Putin government in early January 2019.
He told Micky in an exclusive interview that “US sanctions may be mitigated only through Bitcoin use” and that in February Russia’s elite would “dump US assets and US dollars and invest hugely into Bitcoins.”
Fast forward to February and he’s told Micky the buying has begun.
“1 mln BTC has already accumulated,” he said.
Let's see on the market and just recall what I've said in January https://t.co/7Kgln7K4a1 Russia works.
— Vladislav Ginko (@martik) February 23, 2019
Is this a joke?
There is obviously a good chance this isn’t true.
Micky asked Vladislav Ginko how he obtained the information and he didn’t respond.
One million Bitcoin is worth a cool US$3.9 billion, so surely we’d see a bigger rally than what we’ve seen in the past few days?
Professional Bitcoin trader Craig Cobb said movement on price would depend on a number of factors, including how and where they were able to purchase the Bitcoin.
“If one was to buy on exchange, then it would send Bitcoin soaring,” Mr Cobb said.
“So it would be much more likely that these Bitcoin would be purchased ‘over the counter.'”
Mr Cobb says by purchasing over the counter (OTC), the buyer avoids spiking the price and having to buy Bitcoin at a higher rate.
“If people were to see the price increasing, they would start buying as well, forcing the buyer to have to keep increasing their bids.
“Think of it like a ladder, once you have your foot on one rung and someone else is behind you going the same way up the ladder, the only way is up.”
Is Vladislav Ginko legit?
Micky has spoken to Vladislav Ginko via Skype and can confirm his Twitter account (where he makes all kinds of extraordinary claims) is not a fake.
In the video call – which was recorded and published without any payment to Ginko – the analyst appears to speak to Micky from the green room of a TV studio.
The interview ends abruptly when somebody fits a microphone to Ginko and he walks into a room full of bright lights to a loud applause. Micky News later found video of Ginko in the same clothing talking about poverty and politics on a Russian TV show.
Micky has written to the Russian Presidential Academy of National Economy and Public Administration seeking more details about Ginko’s role there as a lecturer. So far we have had no response.
In a statement to Micky News, said he is a “famous public figure” in Russia and that he doesn’t answer to the “trolls” who doubts his credibility on the internet.
Ginko is extremely bullish on Bitcoin and believes the price per coin will eventually hit US$2M.