My question then becomes, why rely on any assets that can be confiscated?
After Trump, Putin Backs Bitcoin as Russia Moves Towards US Dollar Alternatives
In 2022, the US and the EU confiscated $300 billion from Russia's foreign currency reserves.
We are 2024 and Putin finally says what people like me have been saying for over a decade now: If the ruling mafia can confiscate an asset, then it is not truly yours. It is not property. It is just an illusion. Is a house real property? No, because the ruling mafia can seize and foreclose it. Are stocks or bonds real property? No, for the same reason.
Bitcoin, on the other hand, is largely seizure resistant. That is its true value. That is what we have been pointing out from day one. I do not trust my money to the banks, because there is simply no stopping the ruling mafia from grabbing my money out of my bank account.
The western ruling mafia wants to steal everybody's money. They have already stolen the Russian money. Tomorrow they will steal your money. That is inevitable. The western ruling mafia wants to endlessly bully. That is why we need another ruling mafia to duly bully them back. Seriously, where can I make a donation to the Russian Federation for them to expand their nuclear submarine fleet? All respect is ultimately based on the fear for reprisals. They are not going to f-ck with us, my friend, because we are going to f-ck with them.