The ruble is weakening: Can savings be invested in crypt currency?

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Russian analysts told us where we can invest our savings as the ruble weakens against the dollar and the euro.

Today the Russian national currency has managed to recover a little, the dollar and the euro have fallen below 78 and 92 rubles respectively.

However, the trend towards a weaker rouble continues to dominate. Analysts agree that by the end of this year we will see the dollar for 80 roubles or even higher, and the euro for 100 roubles.

In this situation, there are increasing calls for us to invest our savings in alternative instruments. For example, you can invest in bitcoin and other cryptov currencies.

However, experts remind that many traders in Russia are afraid to buy digital currencies. According to Grigory Vershinin, managing partner of Lavnik Investments, there is no clear legal status for the cryptosphere in our country.

By exchanging rubles for cryptocurrency, a Russian risks facing big problems, for example, after the law prohibiting the circulation of such assets comes into force. In addition, crypto investors need to understand all the features of the innovation market, otherwise they can lose their money if they invest in a dubious project.

Vitaly Mankevich, President of the Russian-Asian Union of Industrialists and Entrepreneurs, compared crypt currency with the ruble in the 1990s.

He stressed that Bitcoin and other coins are now as volatile as the rouble a little over 20 years ago. This is why Russians need to think carefully before investing in digital assets.

Entrepreneur Yan Marchinsky is more optimistic. He told RBC agency that long-term storage of Bitcoins is the best solution for investors who want to protect themselves against inflation.

Demand for BTC will increase in the long term, which will have a positive impact on the cost of cryptographic currency. The ruble, on the other hand, is likely to weaken further, predicts the businessman.