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Russia and China could add Bitcoin (BTC) to their strategic reserves


RT host Max Keizer has recently raised a wacky theory that Russia and China could add Bitcoin to their reserves once the gold standard returns in the US. USA

Keizer Predicts Bitcoin Could Reach $ 400,000

Keizer is one of the first to adopt Bitcoin who has been promoting the first cryptocurrency on his show since 2011. He accurately predicted that BTC could become the biggest story of the decade.

He is also a staunch critic of the US dollar who tore a $ 10 bill to pieces to indicate that green bills are worthless pieces of paper that are not backed by anything.

The former stockbroker recently forecast that BTC could be worth $ 400,000. While this target price may sound crazy, it's not as crazy as its 2011 predictions that came true.

Will Russia and China buy Bitcoin?

That said, his latest theory sounds extremely unlikely. Bitcoin has been banned in China since 2013. The communist state did not warn about cryptocurrencies even after Xi Jinping adopted blockchain in October 2019.

Meanwhile, Russia is also far from being a hub for cryptocurrencies. Alexey Guznov, who heads the legal department of the Bank of Russia (BoR), opined against legalizing trade and the issuance of cryptocurrencies. However, he emphasized that owning cryptocurrencies would not be prohibited.

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