“Over the last year, many wealthy Russians lost billions of euros in the Cyprus economic crisis. The Russian government announced plans to intentionally weaken the ruble – plans that were never realized, but which caused quite a scare. President Vladimir Putin banned government officials from holding bank accounts and securities abroad. Historically, the Russian ruble has been a tumultuous currency, suffering major fluctuations throughout the 20th century. For those distrustful of Russia’s financial institutions, then, Bitcoin’s decentralized basis in math and code may provide an increasingly viable alternative.”
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