The latest report by Opendatabot reveals that the Ukrainian public officials allegedly have a billion-dollar worth of bitcoin stashed away in their holdings. An online incentive collected data from 791,872 state employees, 652 of them agreed to disclose their crypto holdings.
The report stated that the officials are holding a total of 46,351 bitcoins (BTC), which is worth more than $2.7 billion as of writing. The campaign of the declaration ended on March 31, 2021.
Bitcoin is not the only cryptocurrency that is occupying the Ukraine state employees’ holdings; the officials have also invested in ethereum (ETH), cardano (ADA), litecoin (LTC), stellar (XLM), bitcoin cash (BCH), IOTA, and bitcoin gold (BTG).
State employees of the city council, the Ministry of Defense, and the National Police make up the majority of the crypto holders, with some exceptions like the ones working in the prosecutor’s office and village councils all over Ukraine.
Dnipro City Council Deputy Mishalov Vyacheslav currently owns the highest amount of bitcoins, with 18,000 BTC at the time of the filings.
Mykhailo Fedarov, the Minister of Digital Transformation, views the collective filings in a positive light. To him, it is a sign that the country’s officials are becoming more progressive and future-oriented as investors.
However, everyone in the country is less than happy about the publicity of the report.
Head of Mandatory Inspections Department, Sergiy Petukhov, said that his office has made 250 checks this year, including bitcoin’s holdings state employees. He further said that some officials spotted some discrepancies between their filings and Opendatabot’s results.
“If we find that the information provided about the possession of cryptocurrency is inaccurate – this is the basis for administrative or criminal liability,” said Petukhov.
It is compulsory for the Ukrainian officials to state their assets via an official electronic declarations process, in order to mitigate corruption.