Russian University Professor: Russian companies have purchased about 1.8 million BTCs to prevent US sanctions

According to Bitcoinist, Vladislav Ginko, a professor at the National School of Economics and Public Administration of Russia, recently said on television that Russian companies and wealthy people bought about 1.8 million BTCs (about $8.6 billion). It believes that Russia's shift to BTC is due to increased sanctions by the US Treasury's Office of Foreign Assets Control (OFAC). Russian oligarchs are hoarding BTC to ensure that even if OFAC prohibits Russian oil companies from using the US dollar, oil and gas transactions can continue.