hakim on Nostr: Can't quite figure out why the public on X (formerly Twitter) is trying to use the ...

Can't quite figure out why the public on X (formerly Twitter) is trying to use the argument "hurry up, or Russia will start buying!!!" as a reason for creating a strategic Bitcoin reserve. Gentlemen, Russia is no longer the country that can influence Bitcoin's price with its purchases. By early 2025, the country's international reserves are $600 billion, while external and internal debt amounts to $290 billion. The annual budget deficit is $11 billion. For example, the entire healthcare budget is $19 billion, education $16 billion, and debt servicing $32 billion. Looking at these numbers, how many rubles can Russia print (and it’s not the US, such printing would lead to already huge inflation risks) to buy Bitcoin? 10% of the education or healthcare budget? 1% of international reserves? We’re talking about a maximum of $1-2-3 billion. And who knows how much officials will embezzle along the way. Even $3 billion is merely 3-4 weeks’ worth of Michael Saylor's routine purchases. This is an insignificant amount in Bitcoin terms. So, arguments about Russia looming over the Bitcoin market are simply laughable to anyone who understands the real situation in the country, rather than relying on TV news headlines.