Sky News Business Reporter Edward Boyd says Russians are “turning to crypto in a big way” over the last week or so “since the rouble has begun to collapse”.
“The number of cryptocurrency transactions in Russia – converting roubles into crypto – has gone from about $22 billion to about $88 billion,” Mr Boyd told Sky News Australia.
“So, it’s quadrupled in about a week and a half.
“Russians are now turning to cryptocurrency as a way of holding their money.”