Scandal-ridden Russian Entrepreneur to Open a Bitcoin Store for the Rich

14.08.2017

Eccentric Russian entrepreneur German Sterligov has announced that he is going to open the first official bitcoin store in Russia. However, this advocate of ‘spiritual bonds’ notes that bitcoin prices at his store will always be higher than those on the market.

According to Sterligov, current Russian legislation does not regulate bitcoin operations, and therefore they are not banned. The entrepreneur decided to engage in sales of bitcoins after seeing Vladimir Putin’s speech where he spoke positively about cryptocurrencies.

Still, the Russia’s first dollar billionaire stated that only a chosen few could become his partners.

“It’s an expensive store for rich customers. The minimum purchase is 60 million rubles,” he said.

This amount roughly corresponds to $1 million.

Mr. Sterligov stressed that his activities exclude any dishonesty as all the bitcoins will be stored at his personal wallet before they are sold.

According to local publication Ura.ru, the entrepreneur’s Christian worldview and prior experience in retail, only heterosexuals might be allowed to buy bitcoins at his store.

This spring, Mr. Sterligov found himself in the center of a scandal after opening a store named Bread and Salt in St. Petersburg. There he placed a sign on the door reading “No admittance to faggots.” Prices at the store were also remarkable: for instance, bread cost up to 1,650 rubles, which corresponds to nearly $30, while a pack of salt cost 1,500 rubles.

Earlier this month Maksim Oreshkin, Russia’s Economic Development Minister, compared the global development of cryptocurrencies to Ponzi schemes.

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Tags: Bitcoin, exchanges, Russia