Bitcoin Will Tumble After Launch of Digital Ruble, Says Russian Economist

by Louvenia Conroy

Bitcoin will tumble following the rollout of the digital ruble and assorted main CBDCs, a Russian economist has claimed.

Per the media outlet OSN, Alexander Razuvaev, a member of the supervisory board of the Guild of Financial Analysts and Risk Managers, stated that crypto wouldn’t “die totally,” but would turn out to be “marginalized.”

‘Bitcoin Will Tumble’ – Nonetheless ‘No longer Bask in MMM Ponzi’

Razuvaev claimed that the crypto markets had been for the time being “critically overheated” by spiking and unsustainable assign a query to.

He added that BTC and assorted crypto prices would doubtless proceed to upward push in the short time length, but claimed that unpredictable events would possibly perchance per chance additionally happen “after April.”

The economist was as soon as doubtless regarding the next Bitcoin Halving match, anticipated to happen in April this year. Razuvaev stated:

“Crypto is all about assign a query to. Whether it is a long way in assign a query to, it becomes extra pricey. If now now not, it becomes much less pricey. Any [financial asset] – be it a stock or a bond – would be assessed via its money flows. Bitcoin cannot be valued this means, and that’s why it is a long way a unhealthy asset for investors.”

And Razuvaev stated that a “higher world” for investors would emerge “when digital rubles, greenbacks, and euros launch to roll out.”

61552a023bc960a7db56a853b7c8a0624f52129aThe Russian economist Alexander Razuvaev. (Source: VZ-NN/YouTube)

Razuvaev additionally reiterated familiar claims about crypto’s supposed similarity to Dutch tulip mania.

This speculative frenzy in 17th-century Holland noticed tulip bulb prices upward push to “extra than the associated payment of a horse,” the Russian economist well-known. He explained:

“The truth is, after a extremely short time, the homeowners of these ‘boundless riches’ discovered themselves with nothing. They had been right love their ideological descendants who luxuriate in investing in financial pyramids.”

Nonetheless, he claimed that unlike outdated “pyramid schemes,” love the infamous MMM Ponzi, crypto wouldn’t vanish totally. Razuvaev stated:

“Times luxuriate in modified for the explanation that MMM days [in the mid-1990s]. Now, financial toys can are living for a extremely very long time. I don’t assume that the cryptocurrency market will die totally. As an different, it’ll turn out to be a model of marginal phenomenon.”

India’s disclose-drag oil refiners are shying a long way flung from lowered in size Russian erroneous offer because the as soon as-booming change becomes principal tougher underneath tighter enforcement of US sanctions

— Bloomberg (@enterprise) March 6, 2024

Would perchance well Digital Ruble Unquestionably Outshine BTC?

Razuvaev previously claimed that Moscow would in the end force pensioners to safe digital ruble payments.

The outspoken economist stated that CBDC adoption “tendencies” would “finest intensify over time,” as “technological growth takes its toll.”

In slack January, he additionally claimed that US and EU-led sanctions regimes would in a roundabout map undermine the US greenback, and present a increase to Moscow’s CBDC plans.

The Russian Central Financial institution Governor this month underlined claims that the digital ruble is easy in pilot testing, and would possibly perchance per chance additionally roll out no sooner than 2025.

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