Russians are investing their savings in Bitcoin
Russian ruble continues its sad road to nowhere. This year he has fallen by more than 50%, losing about 11% of the dollar cost only last Tuesday, that was the biggest disaster in more than 15 years. Dissatisfied with the policy of the Central Bank, many Russians are investing their savings in Bitcoin.
It is strange but, despite the support of Bitcoin by Microsoft, which was represented by the corporation last week, its course is also reduced. During the week that has passed since December 11, he fell from 359 to 317 dollars.
But Bitcoin became more popular because the transaction in Russia, which numbers
increased significantly. Based on the data from the website bitcoincharts.com, on Tuesday it reached 819 transactions, while for the preceding 30-day period averaged 230. This corresponds to an increase of 250%, the highest since December 2013. Of course, this is not the only indicator, and any analysis should also take into account data on transactions on sites like LocalBitCoins.com.
According to Bobby Lee, executive director of the Chinese leading Bitcoin exchange BTC China, problems in Russia may fuel the growth of the US dollar and other major Fiat currencies.
"News from Russia is really impressive. Based on the fact that people will tend to leave a falling currency, you can expect an increase in trading volume with the ruble. Where does go this capital? It is logical to assume that in the Bitcoin traditional and reliable currency. "