[Jims5543]

Originally Posted by Wayne 962

Has it really? I would love to see some evidence of the transactions coming from Russia - that would be actual proof rather than hyperbole? I'm actually guessing that the "whales" in the Bitcoin space jumped back in to BTC in *anticipation* of people moving assets into Bitcoin from Russia. But I'm not sure of the reality of that at this moment.

Has anyone on the interwebs looked at where these purchases are coming from?

-Wayne

https://www.zerohedge.com/crypto/heres-how-much-bitcoin-russia-has-bought-past-week

Seems the 15% spike was more investors anticipating.

While the potential for capital flight is high, as Citi details above, Russian volumes (although impressive-looking on the chart) have been relatively small in absolute terms so far (around 210 bitcoin per day on average), suggesting that the price action is more due to investors positioning for an expected uptick in demand from Russia, rather than Russian demand itself.