The defiprime Twitter profile posted a screenshot showing a possible sale of Bitcoin for 6,438,828 rubles. That means that at this time, the russians are buying Bitcoin even for amounts greater than $64,000.
Why Russians are paying so much more for Bitcoin
Another screenshot is also shown where you can see other prices on other P2P platforms starting at 5.6 million rubles, or regarding $56,000.
Note that instead en Binancethe price turns out to be regarding 4.2 million rubles, or just over $41,000.
So there are two anomalies
In fact, always on Binance, the current price of BTC in dollars is regarding $44,000, so in the exchanges it seems that the Russians are buying Bitcoin at a reduced price in comparison with the global.
Instead, on P2P platforms, they are paying you up to almost 50% more.
These differences are due to the fact that it is very difficult for the Russians to move rubles at this time.
Therefore, on global exchanges, you can only use rubles that have been previously loaded, while you cannot deposit or withdraw other rubles. For example, on Russian exchanges, the price seems be online with global.
On the other hand, on P2P platforms, it is possible buy Bitcoin from other Russians using forms of money transfer that still work within the country.
Bitcoin, strong demand in Russia
That means that, following the boom of the last few days, the amount of BTC bought on exchanges that pay in rubles is decreasing, while the demand on P2P platforms is increasing considerably.
The reason for the incredible increase in the cost of Bitcoin on P2P platforms that allow exchanges in rubles is probably mainly due to this substantial increase in demandwhich must not yet have been followed by a suitable increase in supply.
These dynamics highlight how much Russians are interested in buying Bitcoin right now, even at the cost of dumping their rubles at bargain prices. On the other hand, at the moment in Russia, most likely, more can be done with Bitcoin than with rubles, especially in international transactions.
