Russian Lawmaker Proposes Strategic Bitcoin Reserve to Finance Minister
Suehyeon Lee
Summary
- A Russian lawmaker has proposed to the Finance Minister that Bitcoin should be used as a strategic reserve at the national level.
- He argued that due to geopolitical instability, traditional reserve currencies are vulnerable to volatility, sanctions, and inflation.
- He stated that virtual assets (cryptocurrencies) can be used as reserves because they do not rely on any single country.
There is a growing sentiment in Russia that Bitcoin should be used as a strategic reserve.
On the 10th (local time), according to Russian media RIA Novosti, Anton Tkachev, a State Duma lawmaker from the 'New People' party, proposed to Russian Finance Minister Anton Siluanov that the country should reserve Bitcoin at a national level.
He argued, "Given the geopolitical instability, traditional reserve currencies are vulnerable to volatility, sanctions, and inflation. However, virtual assets (cryptocurrencies) can be used as reserves because they do not rely on any single country."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.