After sanctions were imposed on Russia, especially in the financial sector, wealthy Russians are turning to these sectors by issuing bitcoins. Let's see what top cryptocurrency officials have to say.

Russians do this by selling bitcoins and cryptocurrencies

Cryptocurrency companies in the United Arab Emirates (UAE) are reporting that they have received requests to sell billions of dollars in bitcoin and cryptocurrencies. This is because the Russians are looking for safe havens for their assets. Senior officials of cryptocurrency companies and financial sources are sending messages in this direction.

Some of the clients of these companies want to use cryptocurrency to invest in real estate in the UAE. Others try to hide it by converting their money into dollars, euros or pounds.

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A UAE-based company reports that they have received multiple requests from a Swiss broker in the last 10 days. The broker has requested to sell billions of dollars worth of bitcoin to their clients. This is because their clients are concerned that Switzerland may freeze their assets. The company's principals said that each request they received was worth at least $2 billion.

Dubai

The director of one company stated that requests of this magnitude are usually received once a month and said.

“In the last two weeks, we’ve gotten five or six of these big offers. It’s not uncommon for them to come in at the last minute – but we’ve never had so much attention.”

The same officer described the interesting incident he encountered as follows: "A man came. I don't know who it was, but it came through a broker. He said he wanted to sell 125,000 bitcoins. That makes an incredible $6 billion. Yes, he told me he would send the money to Australia when he bought it."

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Switzerland itself has imposed sanctions on Russia. As a result, the assets of those who are the subject of sanctions are also frozen in this country.

Dubai, on the other hand, has long been a financial center and is now being transformed into a cryptocurrency hub. The UAE has chosen not to get involved in this crisis between Russia and the West. As a result, the Moscow government is signaling to the Russians that this country is a safe haven for their money.

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