Russian rubles collapsed contrast catalog is a disadvantage?

Legendary Fund Manager and Charity Bill Miller believes that financial sanctions implemented to Russia may result in soaring than Bitcoin prices. He pointed out that gold is the only reserve asset of this country’s largest country’s own country, which means that BTC may take traction in future days.

Ruble BTC soaring after crash

Ukraine’s military conflict has completely changed the trend of the financial community. NATO and the EU declared war to Putin regime. The United States, the United Kingdom, Germany and many other countries have cut off the Russian currency contact and exclude many Russian banks outside the main payment system SWIFT.

Due to these sanctions, rubles have plunged more than 25%, while Russian citizens began looking for other substitute financial instruments to save their savings. Bitcoin transactions in the region have soaked to a record level.

In an interview recently received CNBC, Lemed Mason Capital Management, Chairman Bill Miller Overview, Russia retained 16% of the US dollars and 32% of the Euro Reserve – and these assets were “thought of it Human management. He further pointed out that in its reserves, the only part of other countries cannot control is gold (22%). According to Miller’s statement, these indicators are a “very watching” signal.

He further pointed out that BTC’s supply is limited, which makes it a tool for hedging inflation. When comment on the city coins, he said that they have a great difference from the main encrypted currencies, and investors should treat them as “risk assets”.

Miller’s bitcoin position

Although he has doubtful attitude toward BTC, the Americans have recently become the enthusiastic supporters of the main encrypted currency.

In May last year, he believes that even if the price falls, it is also safe to invest in Bitcoin. In fact, when the value falls, the trader should find it more attractive:

“If something likes something, let me love it, then you can be sure that when it fell, I will prefer it.”

A few months later, he made an interesting comparison between Bitcoin and Gold. In his view, digital assets are similar to luxury sports car Ferrari, and precious metals are vintage – just like “carriage”.

Earlier this year, the legendary fund manager admitted that he had assigned 50% of its portfolio to Bitcoin.