Russians are paying up to $20,000 above market rate to buy Bitcoin - BitcoinEthereumNews.com
मीडिया आउटलेट DeFiprime.com noted Bitcoin is trading for up to $20,000 above the market rate on Russian exchanges. DeFiprime.com jokingly called this the “matreshka premium,” as a spin on the kimchi premium, which was a prevalent phenomenon from around 2016. Matreshka premium is a new kimchi premium ???? $ बीटीसी trading at Russian p2p exchanges/fiat on-ramps with about $20K premium right now ???????????? pic.twitter.com/XnG3o4xcxG - डिफ़िप्राइम (@defiprime) मार्च २०,२०२१ “Matreshka,” or the matryoshka doll, are colorfully painted wooden dolls of decreasing size nestling inside another. It is perhaps the best-known symbol of Russia, representing respect for the elderly, family unity, fertility, abundance, and the search for truth and meaning. Although “matreshka premium” doesnt have the same ring as kimchi premium, the two exist for similar reasons. Blast from the past: Kimchi premium The kimchi premium is a term used to describe the price difference between tokens on Korean exchanges compared to the rest of the world. The most significant difference was primarily seen in Bitcoin. With the fermented cabbage dish being a Korean staple food, what better way to represent this situation? Around 2016, North Korean leader Kim Jong-un was ramping up tensions in the region, including missile testing. Incidentally, missile launches have resumed in 2022, indicating a return