Bitcoin Will Tumble After Launch of Digital Ruble, Says Russian Economist
Bitcoin will tumble following the rollout of the digital ruble and other major CBDCs, a Russian economist has claimed.
Per the media outlet OSN, Alexander Razuvaev, a member of the supervisory board of the Guild of Financial Analysts and Risk Managers, said that crypto would not “die completely,” but would become “marginalized.”
Razuvaev claimed that the crypto markets were currently “greatly overheated” by spiking and unsustainable demand.
He added that BTC and other crypto prices would likely continue to rise in the short term, but claimed that unpredictable events could take place “after April.”
The economist was likely referring to the next Bitcoin Halving event, expected to take place in April this year. Razuvaev said:
“Crypto is all about demand. If it is in demand, it becomes more expensive. If not, it becomes cheaper. Any [financial asset] – be it a stock or a bond – can be assessed through its cash flows. Bitcoin cannot be valued this way, and that is why it is a risky asset for investors.”
And Razuvaev said that a “better world” for investors would emerge “when digital rubles, dollars, and euros begin to roll out.”
Razuvaev also reiterated familiar claims about crypto’s supposed similarity to Dutch tulip mania.
This speculative frenzy in 17th-century Holland saw tulip bulb prices rise to “more than the worth of a horse,” the Russian economist noted. He explained:
“Of course, after a very short time, the owners of these ‘boundless riches’ found themselves with nothing. They were just like their ideological descendants who love investing in financial pyramids.”
However, he claimed that unlike conventional “pyramid schemes,” like the notorious MMM Ponzi, crypto would not vanish completely. Razuvaev said:
“Times have changed
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