Russian State Duma deputy Anton Tkachev sent a letter to the country’s Finance Minister Anton Siluanov requesting the creation of a strategic Bitcoin reserve. Tkachev proposes that this reserve be established “by analogy with state reserves in traditional currencies.”
“I ask you, dear Anton Germanovich, to evaluate the feasibility of creating a strategic bitcoin reserve in Russia by analogy with state reserves in traditional currencies. If this initiative is approved, I ask you to present it to the Government of the Russian Federation for further implementation,” wrote Tkachev in his letter.
The lawmaker argues that geopolitical instability has made fiat currencies such as the yuan, US dollar and euro subject to volatility, sanctions and inflation, which threatens the financial stability of the State.
“Modern challenges imply the need to introduce not only new payment systems, but also alternative instruments for storing reserves that do not depend on individual countries,” Tkachev said, as reported by the local press.
With limited access to traditional international payment systems for countries under sanctions, Tkachev notes that “cryptocurrencies are becoming practically the only tool for international trade.” “The Central Bank of Russia is already preparing to launch an experiment on cross-border payments in cryptocurrencies,” he added.
Tkachev also spoke about the performance of BTC, highlighting that last week reached USD 100,000 per coin for the first time. “This makes bitcoin not only a cost-saving tool, but also an opportunity to make significant profits,” he said.
The issue of strategic bitcoin reserves has gained attention not only in governments, but also in the business sphere. Donald Trump’s promise to create a national reserve of bitcoin in the United Statesalong with the MicroStrategy example, which is currently owns 420,000 BTCas reported by CriptoNoticiashave inspired others.
In Russia, the sector bitcoin It is not alien to the interests of the government, which has been dabbling in it for months. Recently, Russian President Vladimir Putin stated that no one can ban bitcoin. In addition, Putin has signed two important laws: one that recognizes BTC as property and another that legalizes Bitcoin Mining in the country, as reported by this media.
The rise of bitcoin and cryptocurrencies in Russia is largely due to financial difficulties caused by Western sanctions after the military invasion of Ukraine in February 2022. These sanctions have pushed the country to look for financial alternatives, with bitcoin emerging as a viable option to maintain economic stability and overcome the barriers imposed by international sanctions.
Tkachev’s proposal reflects a global trend towards the adoption of BTC as strategic reserves, in a context where geopolitical and economic dynamics are constantly changing.
This article was created using artificial intelligence and edited by a human Editor.
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