Bitcoin reaches its highest price against the Russian rouble

Bitcoin has never been worth so many roubles.

Amid the rally in the cryptomime markets, the Bitcoin (BTC) secured another milestone by reaching a new all-time record against Russia’s national currency, the rouble.

According to data from the largest CoinGecko cryptomaniac tracking site, Bitcoin broke another historical high against the rouble, crossing its previous historical high of about 1,157,000 roubles. According to CoinGecko, Bitcoin was worth over 1,160,000 at 16:00 UTC.

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BTC / RUB price table. Source: CoinGecko

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Bitcoin’s new maxim comes amidst a great recovery in the cryptomorphic market, with Bitcoin exceeding US$ 14,700 for the first time since early January 2018 this morning. The high continues to gain momentum, as Bitcoin is beating $15,000, according to data from CoinGecko.

As the rouble has weakened against the dollar, the new record is not only based on Bitcoin’s massive growth. The previous maximum Bitcoin Profit against the rouble was recorded in 2017, when Bitcoin reached its record of $20,000. At the time, the US dollar cost around 59 roubles. After a big drop against the rouble in the middle of the US presidential elections, one dollar is now worth about 77 roubles.

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The Russian rouble is not the only fiduciary currency facing new Bitcoin highs of all time amid the crypt rally and rising inflation. According to businessman and market commentator Alistair Milne, the price of the Bitcoin reached a new record in seven national currencies, such as those of Brazil, Turkey and Argentina in October 2020. On October 22, Milne predicted that Bitcoin will soon reach a new record in local currencies of Russia and Colombia.

New CVM director appointed by Bolsonaro has his eye on Bitcoin and cryptomoedas

CVM appoints new director who will drive sandbox and claims to be ‚on the lookout‘ for Bitcoin

The Securities and Exchange Commission, CVM, announced this week that it has a new director, lawyer Alexandre Costa Rangel.

The new director was appointed by the President of the Republic, Jair Bolsonaro and had his appointment approved by the Senate and will serve until 12/31/2024.

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Rangel is a lawyer, graduated from the Law School of the State University of Rio de Janeiro (UERJ), and founder of Costa Rangel Advogados.

He has also worked for 19 years with capital markets and corporate law, gathering professional experience in the public and private sectors.

He began his career as a trainee at the CVM’s own college, from 2002 to 2004.

He was also legal advisor to the National Financial System Resources Council (CRSFN), from 2008 to 2010.

The new director of CVM is also „on the lookout“ for the Bitcoin and cryptomoedas market.

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Thus, even when he was sabotaged by the Senate, when questioned by Senator Izalci Lucas (PSDB-DF) pointed out that both he and the CVM are monitoring the cryptoactive market.

The senator had shown concern about cyber risks related to electronic currencies, such as bitcoins, and wanted to know Rangel’s position on the matter.

In response, the sabatado said that the CVM recognizes the growth of digital currencies and has sought to control the market.

„The cryptoactives go through a heated moment, only in 2020 we had an increase of around 70% in these investments. It is still an initial form [in Brazil], but the CVM has looked very carefully at these cores of responsibility and reinforced the duty of diligence imposed on these authorized Brazilian service providers. There is a control historically very well exercised,“ he said.