Investing In Commodities & The Crypto Challenge
“Russians will invest in military-technical cooperation,” – CEO of IEX
Bitcoin will become more popular among Russians
Cryptocurrency bill to be finalized
Russians are looking for new investment instruments
Reducing deposit rates will undoubtedly spur Russians to look for new investment instruments. These can be stock markets, real estate, foreign exchange accounts, and even cryptocurrency..
Experts assure that Russians have no choice but to start studying cryptocurrencies and gradually get used to their existence. Will cryptocurrency exchanges have more clients from Russia or, on the contrary, existing clients will choose more traditional investments, BeInCrypto asked Igor Snizhko, CEO of the IEX cryptocurrency exchange.
– How will a decrease in rates on bank deposits in Russia affect interest in cryptocurrencies??
I.S .: Reducing rates on bank deposits always makes people look for alternatives to banks. Some will go to the stock market, but there are drawbacks there (dependence on oil prices and the general situation in the economy).
In addition, in cryptocurrencies people are attracted by the possibility of maintaining anonymity and hiding their assets, which neither the stock market nor banks can give, and independence from banks and regulators.
Therefore, interest in cryptocurrencies is growing and will continue to grow in any case, and a decrease in the bank rate will spur this process.
– What cryptocurrencies will Russians invest in (BTC, or maybe ETH, in connection with the transition to platform 2.0 and the opening of the staking program)?
I.S .: They will invest mostly in bitcoin, because it is the most widely known. Many of the newcomers only on the crypto exchange will find out that, in addition to Bitcoin, there are many other coins..
New money, entering the market, first of all goes into bitcoin, they go to other assets only after a while.
But from all other coins in ETH, money will go first..
Cryptocurrencies are now of interest to Russian investors for the following reasons:
1 the US Fed has poured more than $ 10 trillion into the falling economy in the past few months.
Therefore, a large dollar inflation is expected, salvation from which they will look for in bitcoin. After all, the stronger the inflation, the faster it grows.
2.Bitcoin is least of all correlated with the real state of the economy, therefore many investors in other assets can use it to diversify risks.
3.Bitcoin is the best way to maintain anonymity, hide assets, avoid fiscal pressure.
– How interesting are cryptocurrencies to Russian investors in the current economic realities. I mean, in financial realities, given the possibility of the adoption of the bill “On digital financial assets”?
I.S .: As for the law on CFA, its initial version, which provides for the prohibition of cryptocurrency, did not pass, and after revision it may be quite acceptable for the market. Considering that the need to “remove barriers” and “provide freedom of action” was said by Russian President Vladimir Putin.
– Thank you for the interview!
Read the opinions of other experts on this issue here.
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