Russians move into bitcoin as ruble tanks

Russians move into bitcoin as ruble tanks

Transaction volumes between the ruble and digital currency bitcoin enjoyed their biggest day of the year on Tuesday as the Russian central bank failed to halt the ruble’s tumble.
The ruble plunged more than 11 percent against the greenback Tuesday — its steepest intraday fall since 1998 — as traders dumped a currency that has crumbled on the back of weaker oil prices and sanctions against Russia by the West.
Volatile trading continued on Wednesday, with the currency gaining over 10 percent against the dollar, although it remains down 13 percent on the week.