According to a graph of the cryptocurrencies owned by civil servants, 652 officials in the Ukrainian government declared owning 46,351 Bitcoin – among other cryptocurrencies such as XLM, ETH, Monero and ADA. The total value would be around $2.7 Billion USD.
To Declare Or Not To Declare, That Is The Question
In Ukraine, civil servants must declare all property that they own. However, the legislation regarding cryptocurrencies in Ukraine – a country far ahead of many others when it comes to crypto adoption – is still in its incipient stages, and has not been voted on by Parliament yet. Meanwhile, Dinamo Kiev, one of the most popular football teams in Ukraine, has also been developing its own cryptocurrency.
As a result, public servants are not yet obliged to declare their crypto holdings. Nevertheless, 652 of them chose to declare their holdings – sharing 46,351 BTC between themselves.
Taking a Closer Look At Who’s HODLing
Among those who chose to declare their holdings, the biggest whale is Vyacheslav Mishalov, a member of the Dnipro city council. He accounts for over a third of the total BTC holdings reported, owning a total of 18,000 BTC. Other noteworthy BTC holders are the first secretary of Ukraine’s embassy in Vietnam – Petro Lenski – with around 6,528 BTC, and Alexander Urbanski – the deputy chairman of the Odesa regional council – who holds a considerable sum of 5,328 BTC.
Although not a Bitcoin HODLer, Rostislav Solod is another public servant in the Kramatorsk region of Kiev – who, besides managing to get into politics and administration at 19, is also a multi-millionaire in Monero. Having bought in when the cryptocurrency was see-sawing between 30 and 50 cents, that’s quite a profit.
According to Chainalysis, Ukraine, Russia and Venezuela are the countries where cryptocurrency is the most widespread – and with people in power who may bring up crypto in a legislative meeting from a more informed position than those who see investing in cryptocurrencies as a new way to attract other investors, the trend may keep going for a while.
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