Published on October 11th, 2017 | by bitcoin0
Bitcoin And Digital Currencies Denounced by Putin
Russian government-owned RT and Reuters both report that Vladimir Putin has decided to take a stand against cryptocurrencies in general, and Bitcoin in particular.
RT reports that Putin believes digital currencies could be used to finance terrorism, evade taxes and launder money, and that Bitcoin itself is a pyramid scheme.
Even though today is the first time Putin took a direct stand against Bitcoin, clouds have been gathering on the horizon for some time.
In the last month, the market first reacted to, then shrugged off, China’s ICO ban, China’s exchange ban, South Korea’s ICO ban, and now Russia’s attempt at banning Bitcoin.
For the market to remain bullish in spite of the volume of bad news demonstrates just how powerful the Bitcoin bull is.