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Why Did Bitcoin Surge So Much Against the Ruble?

Oligarchs dodging sanctions? Doubtful. Regular Russians trying to preserve their wealth? Maybe. There’s also a third, less exciting possibility.

Updated May 11, 2023, 6:30 p.m. Published Mar 6, 2022, 3:50 p.m.
(Andrey Rudakov/Bloomberg via Getty Images)
(Andrey Rudakov/Bloomberg via Getty Images)