♦ Bitcoin is an asset whose value will increase against the euro and the dollar ♦ I think a large part of gold investors will switch to Bitcoin ♦ Bitcoin can be likened to gold, it is the best way to store your values.
Romanians' investments in Bitcoin and other cryptocurrencies have exceeded 1 billion euros, according to George Rotariu, CEO of Bitcoin Romania, a company that created a franchise for cryptocurrency ATMs, and a former professional poker player. Currently, there are no official data on the value of investments that Romanians have made in cryptocurrencies.
"I am convinced that Romanians have over 1 billion euros in Bitcoin. People have been informed, they have known, they have special technical knowledge, we have people who are able to understand such technologies and their potential in the future ", said George Rotariu during the business show ZF Live.
The price of the cryptocurrency reached over 35,000 dollars at the beginning of this month, registering an increase of almost 400% in 2020, evolution brought by the decrease of the population's trust in the traditional currencies and by an extra confidence coming from the investment funds, as it says Rotary.
"Bitcoin has started to attract a lot of attention from investment funds. Retail and many institutions see Bitcoin as a very good investment and a very good way to keep some of their investment portfolios. ”
Cryptocurrency trading platforms cannot operate accounts in Romanian banks after, in 2018, Banca Romania's National Bank classified virtual currencies as "speculative assets, extremely volatile and risky". Thus, local banks close the accounts of companies and individuals who invest in cryptocurrencies. Rotariu explained the process by which Romanians can invest in a virtual currency.
"In order to buy a Bitcoin, a person transfers the value in euros from Romanian banks to the euro account of our company from a bank in the European Union, we put the amount with which he replenished his account, and from there he can trade , can buy Bitcoin or other currencies. Conversely, the person sells his Bitcoin for euros and then withdraws from the platform to his account and we transfer euros. There is only one bank in Romania that rejects this transfer. The revenues from cryptocurrencies are declared at ANAF at the end of the year ", concluded the CEO of Bitcoin Romania.