Crypto Trend Prevailing In Ukrainian Government As Officials Found Holding $2.6 Billion Into Bitcoin

Declarations filed by several officials of the Ukrainian Government showed that they collectively own Bitcoins worth US$ 2.6 Billion. At least 652 officials of the Government were found in a survey possessing Bitcoins.

 It was revealed through a survey that at least 652 officials at the Ukrainian Government have been holding Bitcoins. There are some 46,351 Bitcoins held in between these officials which worth around US$ 2.66 Billion. The revelation was made through a survey that was carried out by Opendatabot and end on 31st March 2021.

However, Bitcoin isn’t the only crypto asset that was owned by Ukrainian officials. In fact many of them had held several other crypto coins such as Ethereum, BCH, Litecoin, XRP, Cardano, IOTA, Bitcoin Gold, and XLM. There are a total of 791,872 employees who are part of the Ukrainian Government. But only 652 were reviewed for the purposes of the survey. However, there is a possibility that still there would be a large number of crypto owners amongst government officials.

The survey also found out that the majority of those government officials who are part of City Councils have been found to be holding cryptocurrencies. While in the Defence Ministry as well as in the local police departments there were a large number of crypto investors. Similarly, the survey also found that a small portion of crypto investors is present in Village Councils and Prosecutors’ offices as well.

But there was one official by the name Mishalov Vyacheslav Dmitrovich who is working with Dnipro City Council in the capacity of Deputy. The survey found that Dmitrovich owns approximately 18,000 Bitcoins. No other official in the Ukrainian Government has such an amount of crypto ownership and that too in Bitcoin alone. As of this time, Dmitrovich holds Bitcoins worth more than US$ 1,094,328,000.

After the publication of the results findings by Opendatabot, Mykhailo Fedorov, who is the Digital Transformation Minister of Ukraine, appreciated the findings. He said that it is worth noting that how the crypto industry is growing in the country. He added that he is glad to learn that not only private individuals but public officials too are progressive in Ukraine. He stated that the results were shocking for him to know that Ukrainian investors are far-sighted.

However, the publication of the report disclosing the crypto ownership of government officials was not welcomed open-heartedly by the majority. In fact, it received a lot of criticism by the concerned authorities as well as from the crypto investors. Many even claimed that their filings contained mistakes and sought approval for amending their annual filings.

The concerned Ukrainian authority also noticed some of the ambiguities in the filings and the ones disclosed in the survey. The authority has stated that it will recheck the facts and figures provided by government officials regarding their crypto ownership.