Rostislav Solod (Ukrainian Politician) Owns 23.2 Million Euro in Crypto
Last Updated on 15 December 2020 by CryptoTips.eu
Rostislav Solod may not be a known politician worldwide, but when he had to declare his assets in Ukraine before entering the city council, many were surprised and saw his name going viral. The 19-year-old politician appears to own more than 22 million euros worth of crypto coins. The boy, who is the son of two national MPs, had to declare his assets as he would take a seat in the municipal council of the city of Kramatorsk.
#People #Ukraine #RostislavSolod Meet the 19-Year-Old Ukrainian Lawmaker With Millions in Monero https://t.co/rMhYG0YEi4 pic.twitter.com/V7hQbNeLVT
— European Chamber of Digital Commerce (@Juchtervbergen) December 11, 2020
Then again, knowing that Ukraine, Russia and Venezuela are the top three countries for cryptocurrency adoption (as Chainalysis noted earlier this year), it is not too surprising that a (rich) youngster would invest in crypto rather than other assets.
Monero at 15
Rostislav Solod is the son of Yuri Solod and Natalia Korolevska, two national parliamentarians in Ukraine with a long history in politics. As such, they of course wanted their son to follow in their footsteps. When the young man graduated from high school in the fall, he was easily registered to the city council of Kramatorsk.
In his mandatory ownership declaration, which is part of an anti-corruption process initiated by the new President Volodymyr Zelensky, he raised quite some eyebrows. The young man owns 185,000 Monero (XMR). At today’s rate, that is about 23.2 million euros.
Meet the 19-Year-Old Ukrainian Lawmaker With Millions in Monero: A 19-year old Rostislav Solod is a Ukrainian politician and a monero whale dreaming of launching his… https://t.co/Vl0g4avazM | https://t.co/FHLhKCQA7o | https://t.co/FHLhKCQA7o #cryptocurrency #Bitcoin #Forex
— CryptoGator.co | Crypto and Forex News Aggregator (@eBargainsToday) December 12, 2020
Solod explained that he bought the cryptocoins in December 2015, at a price that was much lower at the time. He was 15 years old then and should have spent about $ 75,000 around that time to get to $ 28.2 million at the current rate in dollars. He claimed to have received the money from his parents for a business venture which never took off. Although one could wonder about the level of corruption in Ukraine if politicians can give their son such a sum of money at the age of 15, you also have to admit that it’s a fabulous investment.
Legislation
However, Ukraine is currently trying to work out legislation on the regulation of crypto coins. As crypto is so popular in the country, the Ukrainian parliament is discussing the Draft Bill on Virtual Assets now.
The young politician, knowing how his ownership of crypto might come across, declared in Ukrainian media that:
As a young entrepreneur, I saw crypto coins as a kind of free zone with where everyone can do everything. But as a politician I understand that it might be better to have legislation. This will bring money to the country and is better for fighting corruption.
Solod will study economics in London, via online learning because of the coronavirus. When asked why he chose politics, he pointed to the fact that both his parents are also practicing that trade.
Already we wonder what he might invest in next.