Russia and China buying up gold may be setting the stage for a gold-backed cryptocurrency, suggests a former EU minister. However, such a scheme would still be inferior to Bitcoin, according to Russian economist Vladislav Ginko. Russia Targets ‘Monetary Reset’ Russia was the biggest buyer of gold last year and has quadrupled its gold reserves over the past decade. In fact, the country has ramped up its buying spree in recent years, in particular, afterRead MoreThe post Russia’s ‘Gold-Backed Crypto’ Would Lose to Bitcoin, Says Kremlin Economist appeared first on Bitcoinist.com.
