3 Ukrainian lawmakers hold $45 million in bitcoin

Ukrainian lawmakers are big league bitcoin holders.

According to Ria Novosti, citing mandatory financial disclosure records, three public officials from the nation’s ruling party own a combined $45 million in the digital currency.

The financial disclosures show that Dmitry Golubov holds 8,752 BTC ($36 million), Alexander Urbansky possesses 2,494 BTC ($10 million) and Dmitry Belotserkovets owns 398 BTC ($1.6 million).

This comes as the Ukrainian central bank begins working on a proposal that aims to regulate virtual currencies.

Zero Hedge made an interesting point, and provides further support to the idea that bitcoin can be a safe-haven asset (that is until the government fully regulates the cryptocurrency):

Ukraine’s economy is on track to shrink by about 12 percent this year and only return to marginal growth should the eastern campaign end in 2016. Unrest in the country began back in 2014 when former President Viktor Yanukovich, who was perceived to be too close with Russian President Vladimir Putin, was forced to abdicate.

Whether it’s in Argentina, Venezuela or Ukraine, people use bitcoin to protect their wealth.

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