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$3 Million in Bitcoin raised by Russian Opposition Leader


While Russia has been keen on blockchain since its advent, it is gradually gaining acceptance for cryptocurrencies as well. Moreover, cryptocurrencies have risen to be a primary source of funding for Russia’s political ventures.

Recently, a revelation about Alexei Navalny, popularly believed to be Vladmir Putin’s main opponent, has brought to light that he has accumulated more than 591 BTC in donations in the period of 3 years. The value of this will approximately count for $3 Million at present BTC prices.

The donations are now being contested as a Putin supporter has questioned the timings over which the donations were collected. Navalny’s investigative center, the Anti-Corruption Foundation (FBK) is an active member in the media journalism space and has till date exposed several government officials. The list also includes the Russian Prime Minister Dimitri Medvedev and Attorney general Yuri Chaika.

A Telegram Channel named “FBK Staffer’s Confession,” observed that the organization’s wallet had recieved huge donations, which was just few days before FBK carried out an investigation. Implying that it was a paid stint. The news was further propagated and covered by Russian media and Putin supporter, Tsargrad TV.

Furthermore, FBK’s FBK’s chief of staff Leonid Volkov has denied any such claims. Moreover, he refutes that there is any link between these transactions and the investigations carried out. He went on to castigate the blogger has said that it was a poor story show with  no facts to substantiate.

Volkov added:

“You can say that each time Encke’s Comet approaches the Earth it coincides with a big war: 1914 (First World War), 1941 (World War II) and 2014 (War on Eastern Ukraine). But its rotation period is three years, and it approached the Earth many times when there were no big wars.”

The Navalny wallet (address No. 3QzYvaRFY6bakFBW4YBRrzmwzTnfZcaA6E) has been listed on the site. As per the site data it has recieved its first Bitcoin donation in December 2016.

Also, as per data more than 2000 transactions have been carried out since then.

Delving further, the transactons have been worth few Satoshis or even full coins. Interestingly, the transactions have also been more than 20 BTC. It is an interesting observation that Navalny’s political movement, which has even accepted donations via PayPal and bank transfers is not the only cryptocurrency supporter. Media outlets Zona.Media,  The Insider and internet freedom movement Roskomsvoboda are also accepting donations in Bitcoin and Ether. However, there wallets do not have any large amount of Bitcoin and Ethereum.