Russian President Vladimir Putin earlier this month questioned the need to hold state reserves in foreign currencies, saying that domestic investment of such reserves was more attractive.
Putin said the current US administration was undermining the role of the US dollar as the reserve currency in the global economy by using it for political purposes, forcing many countries to turn to alternative assets, including cryptocurrencies.
"For example, bitcoin, who can prohibit it? No one," Puti said.
There are skeptics though, with FED edera Chair Jerome Powel likening bitcoin to gold earlier this month
"People are not using it as a form of payment, or as a store of value. It's highly volatile, it's not a competitor fo the dollar."
BTC has surged more than 50% since the election on 5 Nov that saw Trump elected along with many other pro-crypto candidates.
The price surge has pushed bitcoin's market cap above $2T, overall cryptocurrency market is now approaching $4T
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