Russia is considering creating a strategic Bitcoin reserve
The initiative aligns with a global trend, as countries like El Salvador, Brazil, and Poland adopt bitcoin reserves.
Russian State Duma Deputy Anton Tkachev has proposed the creation of a strategic bitcoin reserve for the nation. Tkachev, representing the New People party, submitted the proposal to Finance Minister Anton Siluanov, advocating for bitcoin reserves to complement Russia’s traditional currency reserves.
In the proposal, Tkachev highlighted the risks of relying solely on traditional reserves like the dollar, euro, and yuan, citing their vulnerability to inflation and international sanctions. He argued that bitcoin could be an independent financial buffer to enhance Russia’s economic stability.
This move aligns with a growing trend among nations, including El Salvador, Brazil, and Poland, to adopt Bitcoin reserves. Recent comments from President Vladimir Putin, affirming the legality and inevitability of Bitcoin’s growth in Russia, may bolster support for the initiative.
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