Bitcoin reserves have been labeled as an “Ticking time bomb“By Russian economists Valentine katasonwhich is at the time of writing, warning of a possible 50% bitcoin crash in the middle of rising cryptocurrency market risks and even growing market vollatility problems.
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Russian economist predicts bitcoin crash in the middle of the market
Katasonov said:
“(Talk about creating strategic cryptores) is a way to inflate bubbles. If the bubble bursts, everything will be good as long as the economy holds up. But regardless, there will still be many victims.”
Fifth column accusations
Bitcoin Reserve’s supporters have faced harsh criticism from the Russian economist, which in recent statements have noticed Crypto advocates as “Fifth columnists“Try to “Undermine the economic security of the country.” This division also highlights growing market risks for Cryptocurrency in Russia’s economic circles right now.
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Central banks against it
However, the Ministry has also proposed that if the liquid fund’s liquid funds reach about 7-10% of Russia’s GDP, Moscow may consider ”risky“Assets such as Cryptocurrency reserves and bitcoin reserves.
Future prospects
Despite these various warnings about Bitcoin reserves that potentially trigger a crash, interest continues to grow among several Russian legislators. Some officials are currently worried about not responding to Washington’s BTC storage plans would mainly hand over the Crypto Sector’s leadership, which can also increase market volatility.
Minister of Finance Anton Siluanov said:
“Treasury should accept that the purchase of lower risk would allow Moscow to earn less, but keep its powder dry.”
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For Russia, some of the decisions made regarding Bitcoin reserves are likely to be affected by both economic considerations and also Cryptocurrency market risks, especially when the country continues to face sanctions and seeks alternative financial systems in the midst of the ongoing market voltility that characterizes the current Cryptocurrency landscape.